Macedonia not to suffer from high budget deficit in 2010.

By bne IntelliNews February 1, 2010
Prime minister Nikola Gruevski forecast that Macedonia will not suffer from high budget deficit in 2010. Gruevski said he derived his conclusion from the fact that the country had the second lowest budget gap in Europe last year standing at 2.77% of GDP, quite close to the target 2.8%. The planned budget deficit for 2010 is 2.5% of GDP. Gruevski added he was also confident because the country paid back its liabilities to the internationals financial institutions, thus reducing its overall indebtedness. In 2007 and 2008, Macedonia paid back 20% of its debt to the Paris Club, and fully its debts to the IMF and the World Bank, as well as other institutions.

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