Skopje, 12th December 2013 (MIA) – Banking sector should provide greater support to private companies, banks are stable and liquid and there is no reason for the recovery of the credit activity not to occur, and in particular greater support should be provided by the largest banks in the country, Deputy Prime Minister and Minister of Finance, Zoran Stavreski recommended at today’s FINEXPO 2013.

– Increase of credits by 4-5% may not be sufficient, still, it is not bad for this stage. However, one of the problems is the fact that the largest banks are with lower growth than this one and the growth is mainly generated by the medium-sized banks in Macedonia. The policies of these largest banks should be reexamined and they should contribute to the growth of the private sector, Stavreski said.

According to him on the long and medium run, the economic growth should be balanced with bigger participation of the private sector.

– Economic growth in crisis situation n Europe is based on global investments and export form companies operating in the zones, however, on the long run, greater support to the private sector by the banks is necessary, Stavreski said.

This year the banking sector, as it was assessed by the President of the Banking Association within the Commerce of Chamber of Macedonia Gorgi Jancevski is moving in the right direction, has good liquidity for both supporting the projects from the companies and purchasing treasury bills and central bank bills.

– It is no harmful for the crediting to companies at all since there are funds for both of them. Country has one billon euros as treasury bills and bonds, EUR 582 million belong to the banks. This is not hindering the crediting to companies since there is sufficient liquidity. These are short-term funds and they may be re-allocated if there is good project, Jancevski said.

He pointed out that as of July, there is increase of the crediting to companies. Total credits increased by 4%, credits to households surged by 8%, while credits to enterprises grew by 0.4%.

Jancevski expects for the credit activity of banks to be intensified next year. I believe that in conditions of recession, the banks cannot have intensified credit activity and that it is necessary for the cycle to be shifted and thus the banks will continue to underpin good projects.

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