Economic growth agenda: The effects of full utilisation of capital budgets among statistical planning regions in North Macedonia

• Authors: Vesna Garvanlieva Andonova , Marjan Nikolov , Ivana Velkovska , Ana Marija Petrovska

Abstracts

EN

North Macedonia can improve its economic growth by addressing the infrastructure gap by at least full capital budget utilisation. The outturn/execution of capital budget expenditures is low and in relative terms decreasing. The planned public finances for regional balanced development are also low and non-compliant with the legally set levels. A test of several hypothetical scenarios of full capital budget utilisation it is expected to positively contribute to the economic growth immediately and in the period to follow. Even if total debt increases in nominal terms, in relative terms the debt-to-GDP on a longer-run reduces through generating additional economic output.

Keywords

EN

regional development; infrastructure; external debt; North Macedonia; capital expenditure; public investments

• Publisher: Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
• Journal: European Spatial Research and Policy
• Year: 2021
• Volume: 28
• Issue: 2
• Pages: 131-146

Dates

published

2021

Contributors

author

Vesna Garvanlieva Andonova

• Center for Economic Analyses (CEA), blvd. Jane Sandanski 63/3, 1000 Skopje, Republic of North Macedonia

• https://orcid.org/0000000207351781

author

Marjan Nikolov

• Center for Economic Analyses (CEA), blvd. Jane Sandanski 63/3, 1000 Skopje, Republic of North Macedonia

• https://orcid.org/0000000279020316

author

Ivana Velkovska

• Center for Economic Analyses (CEA), blvd. Jane Sandanski 63/3, 1000 Skopje, Republic of North Macedonia

• https://orcid.org/0000000221142142

author

Ana Marija Petrovska

• Center for Economic Analyses (CEA), blvd. Jane Sandanski 63/3, 1000 Skopje, Republic of North Macedonia

• https://orcid.org/0000000150679849

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Identifiers

DOI

10.18778/1231-1952.28.2.07

Biblioteka Nauki

2033942