Stavreski: Macroeconomic and political stability, key to foreign investors

Macroeconomic and political stability are the key factors for foreign investors in Macedonia, Vice Premier and Finance Minister Zoran Stavreski told a conference on investments in the region, organized by the European Bank for Reconstruction and Development.

"The most important thing for investors is the country's political stability. Macedonia has been an EU candidate-country since 2005. In this context there is an issue that is not part of the Copenhagen or economic criteria, and that is the name row with Greece. However, this is not preventing us from the harmonization of the legislation with the EU Acquis and standards of Union member-states, which provides security for investors", stressed Stavreski.

He referred to the significance of macroeconomic stability, which Macedonia maintained while achieving growth even in the period of the global crisis.

"The GDP rose by 3.3 percent in 2013, similarly to 2010 and 2011, which is quite solid, taking into account Europe's negative growth in this period. There was contraction only in 2009 and 2012, which is much better compared to Europe", said Vice Premier Stavreski.

According to him, sustainable public finance is one of the crucial components for macroeconomic stability.

"The public debt amounts to 34 percent, the fourth-lowest in Europe, owed in general to the preparedness before the crisis and the early repayment of a portion of the debt. This is also a result of our conservative policy regarding loans from the World Bank and EBRD, which provide support for the required infrastructure projects and business environment, but always using caution regarding the debt sustainability", underlined Stavreski.

The Government delegation, led by Prime Minister Nikola Gruevski, leaves London for Dusseldorf, where it is set to present the country's investment benefits.