According to her, this intervention is linked to the increased need to finance capital investments. At the same time, adjustments will also be made on the revenue side, especially in excise taxes, due to the measures taken on fuel in response to the crisis.

Asked about the cost of the measures, including the reduction of VAT and excise taxes on fuel, the minister said that excise taxes should be adjusted by around 1.5 billion denars. However, she stressed that at the moment it is difficult to make precise calculations.

“The thing I can say at this moment is that we will have a certain upward correction of the budget deficit and for the first time we will have an increase in the budget deficit as a result of the increased need to finance capital expenditures, namely capital investments, which I think, in accordance with the Budget Law, justifies the situation.

And at the same time, we also have certain corrections on the revenue side, in the excise tax segment, because of all those measures we had in the previous period,” Gordana Dimitrieska-Kochoska stated.

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