Skopje, 13th December 2012 (MIA) – Vice Prime Minister and Minister of Finance, Zoran Stavreski, during today’s amendment debate about the Budget again appeals to the opposition not to obstruct the Budget adoption and the borrowing from the World Bank, pointing out that the agreed loans are under exceptionally favorable conditions and that otherwise, Macedonia will suffer a damage in he amount of EUR 84 million.

 

He pointed out that the negotiations with the World Bank lasted three-four months and that it is not something that happened overnight. These financial resources have been agreed so as to support the reforms in the Republic of Macedonia, being granted from the World Bank on the basis of analyses of the overall economic performance of Macedonia, as well as the results in the past and the future projections, Stavreski said at the session of the Parliamentary Commission on Financing and Budget.

 

First loan amounting to US$ 50 million, he said, is with interest of only 0.6%. SDSM representatives said it should not be allowed for these funds to be used. In times when financial markets are pretty much bad, when Europe faces crisis and when all countries strive to provide funds, we obtain US$ 50 million with 0.6% interest. Policy-based guarantee by the World Bank for a loan, which is practically extended by the commercial banks, is extended to us as a result of the sound performance and since we are disciplined as regards both budgetary policy and fiscal deficit, as well as the debt and no matter how much you try to deny this you cannot change the opinion of the international institutions, Stavreski said, adding that SDSM did not manage to reach an understanding neither with the World Bank nor with the International Monetary Fund.

 

Imagine, he added, how it looked like for a political party to obtain such final response from international financial institution, which in a profession and expert manner, explained to you that the debt of the Republic of Macedonia is moderate and that the funds are managed in sound manner and the budgetary policy is rational and sensible.

 

– We will obtain the second loan with an interest, being lower by 4%.

He pointed out that if the opposition continues to obstruct the loans in the Parliament than another alternative will have to be used, i.e. to appear on the international capital market with Eurobond or Dollar bond, which surely has interest, being twice and more higher than the average interest. In that case you will cause harm to Macedonia, amount to EUR 84 million, Stavreski said.
 

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