Macedonia has a low public debt and managed to keep its budget deficit at 2.5% of GDP in 2011, PM Gruevski said to back up the government's efforts to mitigate the crisis. In response to a question, Macedonian PM Nikola Gruevski said that the government is doing everything within its powers to mitigate spillovers from the crisis in the EU. The EU accounts for 60% of Macedonias exports and other 30% are made to countries which are also exporting to the union. This raises the spillover concerns. GDP growth has however reached 4.1% in Jan-Sep 2011, although it decelerated to 2.3% in Q3. Gruevski also said that according to information from the central bank, the local currency is stable and the foreign reserves are at one of their highest levels historically. |
Macedonias tobacco crop is expected to increase by 20% to over 30,000 tonnes in 2013, Utrinski vesnik daily reported quoting Danco Mileski, president of the countrys tobacco association. The ... more
The transport ministry has cancelled the tender for preparing a feasibility study for developing the countrys natural gas distribution network, build.mk portal reported. Reportedly, two bids were ... more
Large-sized commercial bank Komercijalna Banka announced that it has won the award Best Bank in Macedonia for 2013 by the magazine Global Finance. The Macedonian bank wins the award for a 10th ... more