14th May 2020, Skopje – New set of measures are aimed at encouraging the private consumption, whereby focus is put on domestic economy, domestic supply and domestic companies. Thus, Macedonian production will also be underpinned through the financial support provided to the citizens, Minister of Finance Nina Angelovska said in her interview for the “Economic Magazine” TV Program.
-The measures are targeted in order to cushion the economic blow, stimulate the private consumption with emphasis on the domestic economy, domestic supply and domestic companies. We are talking about domestic products and services, and we must keep in mind that a large part of the service sectors are among the most affected ones. If you look at our Gross Domestic Product structure, private consumption accounts for around 65% thereof. We are talking about measures throughout the economy revitalization period, during the reopening process, i.e. at the moment when retail shops are opened, the city malls are opened – Angelovska said.
She pointed out that stimulation of domestic consumption would be targeted.
– Support should be provided to the most affected ones, those who need it most, vulnerable groups, and low-income workers. We are talking about a set of measures aimed at groups of citizens on one hand, while being focused on certain sectors, segments and industries on the other. These are measures that should yield positive economic results in the short run, so that we can talk about the lowest economic drop compared to the region, as projected. We must take into account that the economic drop and the manner in which we will deal therewith would, to a great extent, depend on the measures we undertake – Angelovska said.
Angelovska pointed out that the measures under the first and the second set contributed to the cushioning to a certain extent, being praised by both the European Commission and the International Monetary Fund.