Macedonia increased its debt by EUR 1 billion, says Besimi


Macedonian Minister of Finance Fatmir Besimi indicated that during the pandemic crisis, the country increased its debt by a billion euros.
The minister said this in the context of the announcements that there will be tax reforms in personal tax, profit tax, excise duties and VAT.
If we talk about the COVID-19 pandemic, we know that at that time it wasn’t how much, it was important to find funding to keep the economy alive. When the whole economy was hibernating, we had a 1 billion increase in public debt. All the countries in the world did it. These were recommendations of the IMF, the World Bank, and they provided new instruments, Besimi said.
Finance Minister Besimi added that in the first half of 2022, more than 300 million euros were spent on the import of energy and energy raw materials, and this led to pressure on the budget.

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