ECONOMY Gov’t: Tangible economic results expected in Q1

The government says it expects tangible effects from its measures taken to stabilize the economy as early as the first quarter of the year as the ruling party SDSM is announcing that nearly 23 billion denars will be invested in capital investments throughout 2021.

On Sunday, Finance Minister Fatmir Besimi said the government’s measures implemented through the state budget would be visible in Q1 of 2021 and he announced other financing for the set of measures this year in addition to the EUR 85 million from the state budget to support the economy, the healthcare and the crisis-hit social categories.

Some measures are already being applied, he told reporters in Tetovo, adding that they will be promoted in partnership with the chambers of commerce.

“The key message that is relayed to the businesses and the citizens is that we are following the trends on daily basis, we are listening and making analysis before promoting measures, which we also did in 2020. According to all IMF reports and those by relevant financial institutions, the microeconomic policies and measures have contributed to cushioning the blow from the crisis affecting our economy and our lives,” Besimi stated.

Writing on Facebook, Prime Minister Zoran Zaev said the government has adopted a program on promotion of renewable energy sources and household energy efficiency in 2021. 52 million denars (EUR 843,350) will be set aside to cover costs for the instalment of solar collectors, PVC or aluminum windows, pellet stoves and photovoltaic panels for electricity production.

Meanwhile, SDSM in a statement said that investments in infrastructure and capital projects will resume so as to allow the Macedonian economy to restart and to improve the living standards for the citizens.

“The 2021 budget includes nearly 23 billion denars for capital investments, up 20% than last year,” the ruling party said.

According to the opposition party, of the anti-crisis measures, only 50% has been realized, accusing the government of having no capital investments and of destroying the economy.

54,000 people lost their jobs, VMRO-DPMNE said in a statement, and there are also nearly 50,000 whose salaries are late due to the government’s poor economic policies in the midst of the coronavirus crisis.

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