International Monetary Fund mission, headed by Wes McGrew, is on regular Article IV mission to Macedonia as from today. They will analyze 2009 and review 2010 policies, as well as the future expectations with respect to economic developments.
 
After the kick-off meeting held in the Ministry of Finance, he said they were on regular consultations meetings the IMF carried out in all countries. – This is our first meeting here. During our stay, we will have meetings with the Government and the Central Bank, McGrew said.
 
– We will discuss fiscal policy, monetary policy, trade deficit, BOP current account and all issues relevant for the assessment of whether Macedonia implements quality economic policies, Minister Stavreski pointed out after the meeting.
 
Finance Minister explained that they informed the IMF mission on the 2010 Budget preparation and the main parameters for the macroeconomic assumptions.
 
– We share the same views on the economic developments in 2009 and 2010 and we were told they will revise their GDP projection upwards. As for 2010, we have the same projection on the main GDP trends, i.e. positive GDP growth of 2%, Minister Stavreski pointed out.
 
He expressed his contentment from the budget revenues collection. Revenues are collected according to the envisaged dynamics.
 
– There are signs of revenue stabilization. Of course, the economy is still in a sensitive stage, and revenue collection is as planned, having in mind the situation. We expect for the situation to improve month by month. However, we are always ready to respond should there be any revenue shortfalls and to adjust the expenditure side accordingly, so as to keep the budget deficit, Minister of Finance, Mr. Stavreski, said, adding that projections show sufficient funds to finance budget and current account deficit for this and the next year.
 
Minister Zoran Stavreski explained that the deficit financing for this year is secured, and there is no reason to conclude an arrangement with the IMF. As for the next and the years to follow, everything will depend on the overall economic situation throughout the world and the possibilities to provide financing.(MIA)
