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English
MPs adopt laws within financial sector
Skopje, July 24 (MIA) - Parliament adopted Thursday the Law on amending the Law on Value Added Tax, resulting in VAT reduction for waste management from 18 to 5 percent.
"We expect that the VAT reduction will have a positive reflection on financial results in public communal enterprises", said Finance Minister Trajko Slaveski in the law's deliberation.
MPs also enacted the Law on Macedonia's indebtedness by the International Bank for Reconstruction and Development-World Bank, within the Agreement on the Third Programmatic Development Policy Loan (PDPL 3).
"PDPL 3 is part of the partnership strategy between Macedonia and the World Bank in period 2007-2010. This loan amounting to Euro 16,7 million, is the last from the series of three loans. It includes a list of reform areas, focusing on improvement of investment climate in the country and strengthening of the public sector", stated Minister Slaveski.
Deputies adopted other laws within the financial sector - amendments to the Law on Audit, amendments to the Law on regulating relations regarding payment of used credits from international financial organizations, supplements to the Law on 2008 Budget Execution, amendments to the Law on Budgets and the Law on Commodity Reserves, as well as amendments to the Law on Customs Administration.
Moreover, the Parliament adopted the Strategy for Public Debt Management in period 2008-2010. The Strategy determines the amount of public debt and state guarantees in relation to the GDP, the interest and currency structure of the total public debt.
According to Slaveski, the primary goal in the public debt management is improvement of the currency structure of the public debt portfolio for increase of the share of the Euro-debt, as well as the domestic currency debt in the total public debt.
"Reaching these objectives would enable reduction of risks and lowest cost for public debt servicing", added the Finance Minister.
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