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Old 08-01-2021, 07:47 AM   #909
Soldier of Macedon
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RTG - would be interested in your thoughts on what Vladimir Gligorov, the europhile son of Kiro Gligorov, had to say regarding the below.
Quote:
https://www.mkd.mk/makedonija/politi...-makedonija-ne

The Parliament is debating the supplementary budget, which, among other things, projected the public debt at 61.5%. If, according to expert estimates, our debt optimality should not be more than 52 or 53 percent, can we as a country withstand that debt or will we fall into a hole from which it will be difficult to get out?

- The debt will be reduced with the recovery of the economy. It is not easy to say which level of public debt should not be a problem. It depends on how expensive the debt is, the interest rate and the economic growth. If the economy develops and if there are no new financial crises in the world, Macedonia's public debt should not be a problem. But first, investment in infrastructure needs to be stepped up to boost activity.

What is your position on the introduction of an environmental tax?

- That is a question for a longer comment. Basically, what can be achieved with a tax can also be achieved with a subsidy. I think it is easier to find the optimal subsidy than the optimal tax. And if the tax is not optimal, it will burden, and will not change production.

The resolution to change tax systems on the recommendation of the G7 has been accepted by both the G20, the EU and the OECD. What can be the repercussions from the acceptance of these tax reforms on Macedonia, especially for the companies that are in the duty free zones in Macedonia?

- The goal is to reduce those activities if they are an environmental problem. I do not know what is the optimal level of tax with which those activities would be unprofitable. If the tax is lower, as it could be, then wages will be burdened or a budget subsidy will be sought.
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