The government plans budget deficits of 3.2% of GDP in 2015 and 2.6% of GDP in 2016, according to the newly prepared draft fiscal strategy 2014-2016, published on the website of the country’s parliament. Budget revenues are seen at 32.5% of GDP in 2015 and 31.8% of GDP in 2016, down from 33% in 2014. The fiscal strategy projects economic growth of 3.8% in 2015 and 4.5% in 2016.
According to the strategy, repayment of foreign debt will amount to MKD 9.1bn (EUR 148mn) in 2014. It will peak at MKD 20.4bn in 2015, and then it will drop to MKD 13.7bn in 2016. Domestic debt repayment in 2014, 2015 and 2016 is seen at MKD 1.7bn, MKD 6.9bn and MKD 6.3bn, respectively. The strategy envisages increasing the maturity of the domestic debt portfolio through the issuance of 2-, 3-, 5-, 7- and 10-year T-Bonds.
Kazakhstan-based copper producer Central Asia Metals (CAML) said on September 22 it has conditionally agreed to acquire 100% interest in Lynx Resources Limited, the owner of the SASA zinc-lead mine ... more
The International Monetary Fund (IMF) said on September 18 it expects the Macedonian economy to slow down to moderate growth of 1.9% in 2017 due to the prolonged political uncertainty. The fund ... more
Standard and Poor’s (S&P) rating agency has affirmed its long- and short-term foreign and local currency sovereign credit ratings on Macedonia at 'BB-/B' with stable outlook, the agency said on ... more