Today, at the 124th session, the Government adopted the revised Fiscal Strategy of the Republic of Northern Macedonia for 2022-2024 (with prospects until 2026), as a key instrument for medium-term budget planning and in creating the medium-term fiscal framework.

The Government Press Service announced that the revision of the Fiscal Strategy of the Republic of Northern Macedonia for 2022-2026 is in line with the practice of developed countries and is necessary due to the changes that occurred in the current 2021 in terms of macroeconomic and fiscal parameters.

- Improving the management of public finances, and thus the Fiscal Strategy as one of the most important strategic documents of a government is set among the key priorities of the Government, and is based on the commitment to achieve fiscal consolidation and sustainability of public finances; of accelerated economic growth, increased volume of realization of public investments, improved budget planning in accordance with international practices, increased fiscal capacity and discipline of municipalities, as well as improved fiscal transparency, said the Government Press Service.

The medium-term fiscal strategy, the statement said, is in line with the medium-term fiscal goals and strategic priorities of the Government, as well as the identified strategic priorities for 2022, such as ensuring accelerated and sustainable economic growth, higher living standards and quality of life. the citizens; dealing with the consequences of the global pandemic caused by the KOVID-19 pandemic; successful conduct of accession negotiations with the European Union; developing a defense policy in the function of development, independence, territorial integrity, security of citizens and collective security; rule of law, independence of the judiciary, consistent and non-selective fight against crime and corruption with broad and binding transparency; quality education accessible to all, in accordance with the demand of the labor market, development and promotion of culture and sports; modern and efficient public administration, based on digitalization that provides quality and fast services to citizens and businesses; full implementation of the Ohrid Framework Agreement, building a civil state with ethnic and social cohesion, based on the principles of mutual tolerance and respect; and environmental protection, green development, reducing air pollution and the impact of climate change.

At today's session, the Government adopted the Revised Strategy for Public Debt Management of the Republic of Northern Macedonia for 2022-2024, with a projection until 2026, which determines the amount of public debt in the medium term, the maximum amount of net borrowing in the first year in which refers to the strategy, the maximum amount of newly issued government guarantees in the first year to which the strategy and the structure of the government debt refer.

- Revised public debt management strategy provides a framework for the Government of the Republic of Northern Macedonia to act in order to prudently manage the public debt of the country in the medium term and finance the needs of the state with the lowest possible cost, in the medium and long term, and with a sustainable level of risk, informs the press service of the Government.

Source: MIA