Skopje, 29th September 2015 (MIA) – 12.7% industrial growth in August shows that the Macedonian economy is on the right path, ending this year with a favourable economic growth. This was also confirmed in World Bank Regular Economic Report yesterday, assessing that Republic of Macedonia, together with Montenegro, has the highest economic growth rate in the region, Deputy Prime Minister and Minister of Finance, Zoran Stavreski, said today.

– This is good, since we had faced a very complex political situation and industrial growth in such circumstances is a strong signal by the business sector that political stability and long-term economic policies are the foremost and the most important requirements for economic growth. I believe the growth realized is significant, since it encompasses wide range of branches in the industry, especially the manufacturing industry which, as the pillar of the industrial production, has experienced 8.5% growth in August, Stavreski said.

According to him, the industry experienced growth because, as he said, businessmen see the long-term policies as stable and as favourable, above all the tax policy and the policy in the field of labour relations, as well as the measures such as “Macedonia Employs” Project, attracting foreign investments and other economic policies.

– Foreign companies have also experienced growth in their operations, in particular the production of machines and equipment, as well as the traditional industrial sectors, such as manufacture of textile, manufacture of furniture, manufacture of tobacco products, … Favourable revenue performance and expenditure execution in the first eight months have also contributed to the growth realized, whereby the liabilities towards the business sector have been serviced on regular basis, providing for the companies to feel, as less as possible, the consequences from the political crisis, Stavreski stated.

I expect for similar trends in the economy by the end of the year, having Macedonian industry end 2015 with a favourable growth rate.

– This will be an integral part of the total growth of the Macedonian economy, entering 2016 with a growth rate to be among the highest in the region, Stavreski underlined.

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