Ministry of Finance commenced preparing the next-year budget. According to the projections, GDP growth is expected to be 3.5%, inflation to range between 2 and 2.5%, and deficit to be at the level of 2.5% of GDP.

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As Vice Prime Minister and Minister of Finance, Zoran Stavreski, said, growth rate of 3.5% is real and optimal and it is based on the growth realized in the European economy, as key factor for growth of the Macedonian economy.

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– I believe this scenario is optimal or real. We have also considered, as an optimistic scenario, a scenario on the basis of which GDP would grow by 4 percent, while the pessimistic one envisaged 3% GDP growth, so we believe that the scenario for 3.5% growth is a real one, given the recent information on the developments in the European economy, Minister of Finance said.

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He also added that as regards the growth this year, according to the indicators, there was a good chance for the projected 2% growth to be realized.

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– With respect to this year, in the second half in 2010, Macedonian economy, according to the latest indicators on the trends in the industrial production and having in mind that budget revenues are showing better performance, should realize better growth compared to the one at the beginning of the year. All in all, envisaged growth of 2% will be obtained. However, as is the case with any other projection, there are risks for overperformance or underperformance, Stavreski pointed out.

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Over the medium term, in 2012 and 2013, as Finance Minister said, GDP in Macedonia is expected to achieve the growth rates of five and over five percentage. He pointed out that projected budget deficit is at the level of 2.5 percent, mainly due to the planned increased level of investments, in particular in the transport infrastructure, and in 2012 and onwards it would be reduced to 2 percent.

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He announced that 2011 Budget will be approximately at this-year level, increased by the real growth of the economy, i.e. of GDP.

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– There will be no significant increase in absolute terms, while in real terms, it will remain at this level, Minister of Finance, Zoran Stavreski, said. (MIA)

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