Bytyqi warns: Public debt will exceed 11 billion euros by the end of the year

Social Democratic Union of Macedonia (SDSM) MP Fatmir Bytyqi said that over the course of two and a half years, public debt has increased by 2.5 billion euros. He stressed that, with the addition of 480 million euros in new debt, the total will exceed 11 billion euros by the end of the year.

In an interview with “TV24,” Bytyqi called for clarification of how the 330 million euros in debt owed by the Public Enterprise for State Roads is being recorded, as well as the additional 150 million euros disclosed by Finance Minister Gordana Dimirieska-Koçoska. “This concerns an additional 480 million euros, which, if added to the figure of 10.7 billion, will push the debt beyond 11 billion euros,” he said.

The MP described the second budget revision as the result of inadequate planning and improper management of public finances. He said that revenues had been realized at 73.4%, while expenditures stood at 76.6%, and that capital investments had fallen by 5.8 billion denars.

“It is a fact that capital investments have been reduced by 5.8 billion. But there is another issue that no one is talking about and on which we will insist on receiving an answer at the committee hearing: how is it possible that on October 19 you had an execution rate of 55.4% compared with the current Budget, which is still in force?” Bytyqi stressed.

According to him, the fact that the planned funds have been reduced cannot be presented as a better achievement in budget execution.

“You can cut 20 billion and then claim that execution is 100%. If the goal is to reduce the amount of capital investments in order to raise the execution percentage, then eliminate them entirely and you will have 100% execution of investments,” Bytyqi concluded./Telegrafi/