Macedonian Government has adopted new measures for writing off debts related to pension, health insurance in support of the liquidity of companies and their efforts to surpass the consequences of the global economic crisis.

"The measures will meet the requests of hundreds of Macedonian companies related to outstanding debts for pension, health insurance," Vice-Premier and Finance Minister Zoran Stavreski told a press conference on Sunday.

Under the two new draft laws, one for the retirement and the other for health insurance, the interest rate of all outstanding debt up to 1 January 2009 will be written off if companies pay the principal debt in six-month period after submitting application to that effect. The measure also refers for the period between 2009-2012. If the principal debt for the compensations is paid in six months 100% of the interest rate will be written off. If it is done in six to 12 months, 75% will be written off, while 50 percent of the interest rate is to be written off if the principle debt is serviced in 12-18 months, Stavreski said.

The third measure refers only to the health insurance debts up to 2009, namely if companies regularly service their obligations in terms of compensation for retirement, health insurance by 2015, all of their previous outstanding debts are to be written off.

The applications for these benefits may be submitted after enforcing of the new laws. Estimations say that the interest rates make up 40 percent of the principal debt for retirement insurance.