Macedonia: New Anti-Crisis Measures

"There are more challenges ahead and a clear need for anti-crisis measures,” Stavreski told MPs.
 
The government is looking into several proposals put forward by businessmen for the facilitation of company liquidity, tax payment and gross salaries, he announced.

“The fourth anti-crisis package will be unveiled soon, allowing us to move forward under more stable economic conditions in 2010," said Stavreski.

Minister Stavreski reminded MPs of the three previous anti-crisis packages which he said resulted in the second-best budget deficit level result in Europe.

"This demonstrates our healthy fiscal policy. We have managed to preserve a stable, controlled budget deficit level aimed at supporting capital investments, but not causing macroeconomic destabilization. We will continue in this direction in 2010," he said.

Macedonia this year had difficulty dealing with the global economic downturn. Its flagship metal, construction and textile industries all suffered serious blows due to the lack of demand for their products on foreign markets.

The European Bank for Reconstruction and Development, EBRD, recently released data showing that the country’s economy last year shrunk 1.2 per cent, but was forecast to grow 2 per cent this year and increase by 3.8 per cent in 2011.

EBRD predicted that Serbia and Macedonia’s economies may benefit from a rebound in metals prices and see steady growth in the coming two years.