IMF justifies Macedonia's higher budget spending.

By bne IntelliNews May 12, 2010
The IMF mission, currently visiting Macedonia, justified the increased budget spending despite the crisis, saying that it is most important to keep the budget balance healthy. The IMF advised the private sector to work harder for the countrys economic growth and also suggested stricter banking supervision. The IMF also said it did not expect the Greek crisis to have a significant effect over the Macedonian economy although there are several Greek banks in the country because they are operating with domestic resources. The IMF had forecast an economic recovery for the country in 2010 with expected GDP growth of 2% y/y.

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