1st March 2022, Skopje – Quantities of commodity reserves are as legally prescribed and are sufficient, with the companies having sufficient reserves as well to respond to the market needs. Therefore, there is no room for panic, Minister of Finance, Fatmir Besimi, pointed out in his interview for Euronews Albania.
“Commodity reserves are classified information and, therefore, such confidential information cannot be publicly disclosed. However, what is crucial is that they are in sufficient quantities. Not only commodity reserves, but also quantities of reserves of the companies for their market needs are sufficient. Hence, at the moment, quantities of reserves are adequate and there is no room for panic. We will continue piling up commodity reserves as envisaged in the annual program. As a Government, we also consider the possible needs for additional increase of quantities of the reserves, if need arises”, Minister Besimi said.
Talking about the measures the Government has been undertaking as a response to the effects from the energy crisis to the end of protecting the standard of the citizens and preventing any large increase of the prices of basic food products and electricity on the regulated market, he underlined that they are not sufficient, considering that the crisis and the developments in Ukraine continue. It is important to monitor its effect on the national economy so as to decide on the measures and capacities needed.
“Regarding both the economic and the social challenges, we are in constant contact with all social stakeholders so as to be able to react accordingly, at the same time communicating with the European Commission and the international institutions, the World Bank and the International Monetary Fund, for the possibility to use instruments to help financing the costs of the country’s economy”, Besimi underlined.
The interview took place in London, where the Minister, together with the Prime Minister Dimitar Kovachevski and Deputy Prime Minister in charge of Economic Affairs, Fatmir Bytyqi, participated in the EBRD Western Balkans Investment Summit 2022. Key topics of the Summit are energy, diversification, energy uncertainty, energy and infrastructure connections of the countries in the region, human capital strengthening and digitalization.
“Specific projects implemented by EBRD in the respective areas were discussed, the objective being to define the advantages and the reasons why investors should invest in the countries in the region. The goal is for the countries to present themselves from macroeconomic stability perspective, as well as to present the tax system advantages, the readiness of the capacities and the human capital, and most importantly – the infrastructure connection”, Minister of Finance said.