North Macedonia adopts β¬400mn package to ease the economic crisis caused by Russian-Ukrainian conflict.
The government adopted a package of 26 measures and recommendations divided into two categories β for protection of living standards of citizens and maintaining the liquidity and financial support of companies.
According to the Finance Minister Fatmir Besimi, the set of measures is worth about EUR 400 mln of which EUR 90 mln are waivers of revenues, and about EUR 310 mln are direct fiscal expenditures.
Among the measures adopted are: to reduce the preferential VAT rate on basic food products from 5% to 0%; the application of the preferential tax rate of 5 percent for the supply of electricity to households to be prolonged; the VAT on diesel, unleaded gasoline, gas oil, liquefied petroleum gas and methane will be reduced from 18 percent to 10 percent.; there will be also VAT exemption on import of natural gas, electricity, heat or cooling energy.
