The fresh EUR 111 million, which come as a result of latest Government measures, represent a direct support for the economy and companies, said Monday Vice Premier and Finance Minister Zoran Stavreski, adding they would provide enterprises with turnover and investment funds, but also secure many jobs.

"The Government has secured EUR 111 million for support of firms in these difficult times, when orders from European economies reduce, while distribution of banks in Macedonia is lower. Therefore, these funds will secure means for companies to maintain liquidity and invest. The funds are allocated at favorable conditions, which are not available neither at the domestic market, nor in Europe", said FinMin Stavreski after today's meeting with representatives of chambers of commerce in Macedonia and the Macedonian Bank for Development Promotion (MBDP).

The EUR 10,7 million in MBDP recapitalization will support companies dealing with buyout, processing and export of agriculture products.

"We decided to support a priority sector by funding SMEs, which will obtain funds at a record low interest rate of 3 percent, with a five-year repayment period and a one-year grace period", said Stavreski.

The European Investment Bank (EIB) credit line of EUR 100 million is allocated for big companies (EUR 30 million) and SMEs (EUR 70 million), at a subsidized interest rate of 5.5 percent, an 8-year repayment period and two-year grace period.

"These are exceptionally favorable conditions, which we believe will save thousands of jobs in Macedonia, but also create jobs. However, times are difficult and it is clear that the European crisis has brought additional burden that the Government, the economy, the banks and the National Bank should overcome together", added FinMin Stavreski.

The businessmen expect the funds to be withdrawn soon, thus becoming operational.

"These funds are significant for the economy, coming in the right time for companies, and should become operational as soon as possible", said Macedonian Chambers of Commerce executive director, Mirce Cekredzi.

Economic Chamber of Macedonia chairman Branko Azeski said today's meeting was a model of a true public-private dialogue.

"Our efforts for development of infrastructure, exports and investments will suffer certain changes at this time of crisis in Europe. Therefore, we would like to see more of such meetings between the Government and the private sector, in order to review all changes occurring in the main sectors of the country's economy", added Azeski.

Economic Chamber of North-West Macedonia executive director Fatmir Bediki saluted the measures, saying they would mitigate the financial crisis for SMEs.

"These measures will provide stimulus, so that the entire economy exits the current state", emphasized Bediki.