Companies in North Macedonia have received VAT refunds worth €145m for the first four months of the year, a 16.7 percent increase from 2019. The pace increased 23 percent in the month of April alone with refunds amounting to €38m.
The country’s Minister of Finance Nina Angelovska said that in the current climate, which is marked by a severe health crisis, it’s crucial to maintain the liquidity of the economy. She said that rapid VAT refunds were one of the ways the government was trying to be of assistance. It’s also providing interest-free loans through the Development Bank of Northern Macedonia, with €13.7m having so far been allocated to micro, small and medium-sized enterprises. Another €100m has been earmarked for salary support, according to Angelovska, as the government sees job preservation as an effective way to inject liquidity into the economy.
