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Wednesday, October 17, 2018, 

Investments for improved public services to sustainable development: FinMin

Investments for improved public services to sustainable development: FinMin

Skopje, 12 October 2018 (MIA) - Macedonia is the first country in the region to introduce a guaranteed minimum income, while sustainable growth can be achieved only through investments for a better life of citizens and an improved social protection system, Finance Minister Dragan Tevdovski told a panel within the IMF/World Bank Annual meetings in Bali on Friday.

Minister Tevdovski said the Government's priority is the country's EU and NATO accession, with the prospects of improving the living standard, rule of law, a sound education and health system.

"One of the Government's first steps in 2017 was to increase the minimum salary for all employees. We have also developed a comprehensive reform in the system of welfare and children's protection. One of the pillars of this reform is a guaranteed minimum income and we are the first country in the region implementing this reform. The World Bank is supporting us in improving the system of social protection, the goal being improved targeting of social transfers to vulnerable groups. Furthermore, we are planning to introduce a fair tax system. These measures aim towards reducing inequality and achieving the sustainable development goals," Tevdovski told panel "Implementing the SDGs in a Changing World: Localization, Inclusiveness, and Investing for Impact."

He also referred to the significance of education in achieving sustainable development, saying the Government is working towards doubling the number of children in pre-school institutions, a project supported by the World Bank.

Tevdovski added there are continual investments for improvement of public services and utility infrastructure, supported by the European Investment Bank (EIB) and the EU funds.

The FinMin said the country is also receiving large support from the European Bank for Reconstruction and Development (EBRD) and KfW.

The panel also included Organization for Economic Cooperation and Development (OECD) chief Angel Gurria, EIB president Werner Hoyer, World Bank Vice President Mahmoud Mohieldin, and renowned economic professor Nicholas Stern.

Finance Minister Tevdovski is accompanied by National Bank Governor Anita Angelovska-Bezoska at the IMF/World Bank Annual Meetings. ik/12:57

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