Government increases budget deficit by 70 million euros in two months

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Additional Deputy Minister of Finance Gordana Dimitrievska-Kocovska revealed to the public in the show “Sto ne e jasno” on Alfa TV the details of the condition of the state treasury in these conditions of a global pandemic of the dangerous coronavirus.

She noted that in the election year, with the sole purpose of buying more votes, the budget deficit for the first two months grew by a staggering 70 million euros. Kocovska pointed out that she does not believe that 700m euros in borrowing will be enough to cover the budget gap.

Her calculations and calculations of her cabinet suggest that Macedonia will need at least additional 1.2m euros in debt to weather the corona crisis, borrowing up to 1.7m euros in net debt.

She reveals that Macedonia is now seeking 600 million euros in loans, and how much the Eurobond will depend on the budget deficit.

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