Dimitrieska Kocoska: The government has taken us into bankruptcy, every family of four owes 2,400 euros plus interest in just one year

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If in 2016 SDSM representatives said, “There is no justice when the public debt grows dizzyingly” today from this rostrum I will tell them: There is no justice, YOU took Macedonia into bankruptcy. I ask them now: if the level of the public debt of 48.8% of GDP accumulated in 10 years of rule and two economic crises was called the GREEK SCENARIO, what is the name of the public debt of 60.2% at the end of 2020 or 6.5 billion euros, which will continue to grow by an additional 450 million euros in 2021? Less than a year has passed since the first closure of the economy and the declaration of the pandemic, and Macedonia is indebted for over 1 billion and 150 million euros of new net debt. Or a family of four has a new debt in just one year of about 2,400 euros plus interest. I repeat a family of four will return 2,400 euros plus interest in one year, said at today’s press conference, Gordana Dimitrieska Kocoska, member of the EC of VMRO-DPMNE.

– Everyone can calculate and estimate how much he received in the past year, and how much he will have to return. Because it should be clear to all of us that that debt is ours, to all of us, but also to our generations and we will all pay it back together. The Minister of Finance says that the incomes as of February are almost at the same level as last year, that the economy is stabilizing, that the plan is being followed !!! Minister – the same as for 2020, when you failed with 100 million euros of revenues from the planned realization for the whole year? Why did not you say how much is the income from the personal income tax for these two months, if we know that only for January they have an annual decline of 6%, which clearly indicates negative tendencies in the labor market and increased unemployment. Then, you did not say how much is the gross VAT revenues, which in January have a high decline of – I mention 10% compared to January last year. Does this show that private consumption is still low, that people have less money, but also more insecurity to spend. “And how can they be sure to spend, when this government has no to stabilize the economy, no vaccines, no return to normal,” she said.

Dimitrieska Kocoska points out that the people are scared, that there is no money, that there is no trust in this Government for a better tomorrow, according to the data from the State Statistical Office for GDP for 2020, which were published the other day.

– Private consumption in 2020 decreased by 5.6% annually, and only in the last quarter of the year by 4.3%. Even more worrying is the data on gross investments, which in 2020 decreased by 10.2% compared to 2019, and only in the last quarter of 2020 by 13%. This clearly shows that this Government did not have any capital investments, and the private sector was significantly affected by the crisis, with no prospect of investing. I mention, the decline in gross investment in 2020 is higher than when we had it during the military conflict in 2001 when it was 6.1%. And so, in your opinion, with a stable budget and good revenue collection, you have issued a new Eurobond of no less than 700 million euros or you are creating a new net debt now of 200 million euros, and without any shame, you are still bragging that the interest rate was historic lowest. Even after so many years in power, you have not yet learned what influences and how interest rates are formed on borrowing in international capital markets. That interest depends on global liquidity, on the search for investors’ returns, why there are only negative returns on the market, she asks.

– Purely for comparison, in the past both Macedonia and Slovenia had positive interest rates, ie we paid interest on borrowed funds through Eurobonds. Today, Slovenia has a negative return, ie in translation investors lend money to Slovenia, despite the fact that in the end, they know that they can lose that money, and they still charge us interest, which for the last time is 1.65% of the coupon interest, but the yield is higher. You boasted that the interest rate is the lowest in the region. You are manipulating again.

Serbia and Croatia borrowed before us for longer periods, with lower interest rates. Both countries use the borrowed money to pay for the vaccines that they agreed on in time and distributed to the population, and what do you pay? Do you use the money for 10 times more expensive purchases for appliances than the market price ??? And here, do you think that if we – like you in the past made a negative campaign, you would be indebted at that interest? Gentlemen, We are not like you, we do not work against our own state. We do not write letters to investors and do not snoop. Another lesson I advise you to learn, and that is, that the most expensive money is the one you do not have, and you, your government spend it unproductively! Finally, if all Central Banks in the region prohibit the payment of dividends to their banks, and then the same banks give you that money, you will spend it without any effect visible to our Macedonia. With this government, people, and the hole in which we have fallen has no bottom, points out Dimitrieska Kocoska.