Press Review 26 Sep 12

Macedonia Press Review – September 26, 2012

Promised government pay off to firms, kicks off; Macedonia mulls 250 million euro loan


Tens of millions of euros from the state budget have already been paid to firms this week after Prime Minister Nikola Gruevski promised pay off of delayed payments of VAT returns and invoices to companies. The Finance Minstry confirms that the operation has already begun but do not tell precise sum that has been paid so far. Gruevski previously promised that the government will pay off its entire debt to the private sector by February 2013 in order to improve the economy's overall liquidity. However the entire sum remains a mystery as well.

The World Bank yesterday confirmed to the daily that it will soon approve a warranty to the Macedonian government so that it can raise loans from foreign commercial banks. Country’s Finance Minister Zoran Stavreski informed this week that the country plans to raise a 200 to 250 million euro loan at the start of next year. This money would be spent to repay the state debt to local companies, to increase pensions and to fund other government projects, the daily says.

Balkan Insight has not verified the reports and cannot vouch for their accuracy.

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