Minister of Finance Zoran Stavreski expects for most of Greek investors to keep their business in Macedonia, announcing that the state would cope with the effects of the economic crisis in Greece through its comparative advantages and continuation of disciplined fiscal policy, achieving good macroeconomic indicators.
 
– Possible closure of Greek border due to strikes or social unrests, will certainly affect the trade volume. Hence, Greek investors look for places with lowest costs so as to resume their businesses. Those costs are much lower in Macedonia than in Greece, so I expect for most of them to keep their business in our country, Vice Prime Minister and Minister of Finance Stavreski said, responding to journalists’ questions.
 
According to Stavreski, crisis in Greece hast turned into a European one. Yesterday’s reduction of the credit rating of Greece, Portugal and Spain by “Standard & Poor’s” means that the crisis is practically expanding, questioning the Eurozone’s economic growth, i.e. how the Eurozone will cope with the ever increasing debt of several of its member- states.
 
Perception of investors for Greece, as well as for the whole region, as Stavreski pointed out, will automatically worsen, which could certainly not benefit the Republic of Macedonia.
 
– Unfortunately, there is not much we can do except to continue to implement a disciplined fiscal policy and achieve good macroeconomic indicators as so far, so as to show that there is difference, i.e. Macedonia, having in mind the business conditions and the amount of budget deficit and GDP, is a stable economy unlike these other countries, facing no problem with foreign indebtedness, Minister of Finance said.
 
We should promote the comparative advantages we have, hoping investors would recognize the difference, Stavreski said.(MIA)
