Washington, 8th October 2010 (MIA) – Projections made by the International Monetary Fund (IMF) for Macedonian economy are encouraging since, looking onwards for the second half of the year, as well as the next year, they are very similar with the Government projections, Macedonian Vice Prime Minister and Minister of Finance Zoran Stavreski said in Washington today.

 

– Both the IMF and the Government envisage that the second half will be better for Macedonian economy and that Macedonia will be among the countries to realize relatively higher growth rates next year. This means we are exiting the crisis, the economy is recovering, being good signal for the future, since it is important that, in crisis situation, all economies seek manners how to survive, Stavreski said, heading Macedonian delegation at the IMF and WB General Meeting.

 

According to him, it is also important that Macedonia is one of the rare countries in the region to have positive growth rates in 2010 and 2011.

 

– According to IMF projections, there are several countries in the region, among which EU countries such as Romania, Greece and Bulgaria, which will face recession this, as well as next year. So, it is encouraging that IMF confirmed that Macedonia has good outlook, in particular for next year, Stavreski pointed out, answering to a journalist’s question about the new projections, announced by IMF these days.

 

As regards meetings with the highest IMF and WB officials during the Forum in Washington, Macedonian Vice Prime Minister expects acknowledgment of both the quality and the performance of the Government’s economic policies.

 

– During the meetings with the highest IMF and WB officials and WB and IMF Missions Chiefs, I expect for the quality of the economic policies to be acknowledged, i.e. to obtain real, professional and expert assessment from the most renowned institutions worldwide about whether Macedonian economy moves in the right direction and whether its policies yield results or whether they can advise us on achieving even better results, Stavreski said.

 

In addition to the acknowledgment of the policies as high-quality, Vice Prime Minister also expects continuation of the good cooperation with these two financial institutions as regards financial support for more intensive economic development of Macedonia.

 

– There are a lot of projects, as well as budget support extended by IMF and WB, which can help for the economy in the Republic of Macedonia to achieve better economic performance and I believe that, as so far, they will acknowledge that the economy and the policies we implement are adequate so we can continue the good cooperation with these two institutions, Stavreski pointed out.

 

Estimates of the economic crisis in the past two years and the reaction by WB to the crisis, needs of the developing countries, as well as estimate of future challenges and possibilities, are among the topics to be discussed by the Ministers of Finance and Governors of IMF and WB member states during this year’s Annual Meetings in Washington.

 

Macedonian delegation at IMF and WB Annual Meeting also comprises he Vice Prime Minister in charge of Economic Affairs Vladimir Pesevski and Deputy Minister of Economy Metodij Hagi-Vaskov. It is envisaged for Vice Prime Minister Stavreski to meet IMF Executive Director Mr. Age F.P. Bakker, IMF Mission Chief for Macedonia Wes McGrew, World Bank Vice President Philip Le Houerou and Country Director and Regional Coordinator for Southwest Europe Jane Armitage, as well as high IMF and World Bank officials, Naoyuki Shinohara and Ruud Treffers.

 

Autumn meetings of the IMF and the World Bank are held every year. They are attended by Ministers of Finance and Governors of the Central Banks of 187 member states, discussing about the current developments in the global economy, as well as issues such as poverty reduction and encouraging economic growth.

 

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