The second budget revision is not the result of budget liquidity problems, but rather a response to changing economic conditions, while maintaining the same priorities: protecting citizens, meeting legal obligations, and upholding economic activity and fiscal discipline, Macedonian Minister of Finance Gordana Dimitrieska Kochoska told reporters Thursday.
The FinMin notes that this revision is necessary to timely align budget projections with new economic conditions and actual economic trends for the remainder of the year.
“The second budget revision is a timely response to new economic conditions, as well as confirmation that we are managing public finances responsibly and with clear priorities. We are ensuring a stable budget, the timely settlement of all obligations, and the protection of citizens. We are making adjustments where necessary and saving where possible, yet we continue to invest in areas crucial for future economic growth. This revision is not a step backward. It is a timely adaptation of the budget to new conditions and a confirmation of our continued commitment to stable public finances, the protection of living standards, and sustained economic growth,” Dimitrieska Kochoska said at a press conference at the Government.
Under the supplementary budget, total revenues are projected at MKD 374.2 billion, which is approximately MKD 5.3 billion less than previous projections. The bulk of the adjustment concerns excise duties, which are being revised from MKD 34.1 billion to MKD 30.4 billion. The deficit remains at MKD 46.3 billion.