IMF content with fiscal and monetary policy

The International Monetary Fund (IMF) Mission, which is paying a visit to Macedonia since last week, expresses content with the implemented fiscal and monetary policy and with the measures taken to support the country's economy in times of crisis.

This was highlighted at a meeting between the Head of the IMF Mission, Ivanna Vladkova Hollar and Economy Minister Valon Saraqini, who presented Macedonia's economic condition to mission staff, the ministry said in a press release.

The IMF officials stressed the need of maintaining macroeconomic stability, retaining an inflation rate within the projected framework and decreasing the unemployment rate.

"Even though 2013 will be a year filled with numerous threats and risks, there will be several key factors for optimism, including a favourable level of raw material reserves, stable energy supply, increased demand of finished goods on the local and foreign market, gradual recovery of the global economy and the government's efforts to attract foreign direct investments and to promote Macedonian products," Saraqini said.

The Minister put an emphasis on the loans for small and medium-sized enterprises with a subsidized interest rate and reforms aimed at creating a favourable business climate and attracting investments.

Referring to energy, Saraqini presented the capital energy projects included in the Energy Strategy.

"A growth has been registered in the sector of tourism and Macedonia will be visited by at least 80,000 tourist from Europe alone according to the agreements signed with tour operators owing to the government's subsidies," Minister Saraqini stated.

The IMF Mission representatives showed interest in investment opportunities and how large companies on one hand and small and medium-sized enterprises on the other were treated before the institutions. Consequently, Saraqini informed that the government held regular meetings with the three chambers of commerce in the country.