Skopje, 2nd May 2014 (MIA) – According to Deputy Prime Minister and Minister of Finance, Zoran Stavreski, Law on Financial Discipline, coming into force today, will significantly improve liquidity of the Macedonian business sector.

– It is a matter of a request by the domestic companies in the Republic of Macedonia, envisaging introduction of deadlines for settlement of liabilities among private sector entities, as well as when private entities works with the Government, Stavreski said today, answering journalist questions, following the meeting held in the Ministry of Agriculture, Forestry and Water Economy with the associations of farmers.

According to him, introduction of strict deadlines, as well as the obligation to make payments within the envisaged deadlines, the envisaged payment of fines and interest if failing to adhere to such deadlines, will interrupt the practice of not settling the liabilities, which, as he said, was, somehow, even done by certain companies with good liquidity.

– Culture of not settling the liabilities was somehow created, which is not good neither for a market economy nor functional national business sector, when large number of companies complained about, requesting for instruments to be put in place so as for such practice to be interrupted. It is the Law on Financial Discipline that meets such requests, Stavreski underlined..

He went on by saying that it was a practice in other countries, EU member States, and he expressed assurance that all entities working in the field of legal economy and those with good intentions to work and conclude transactions and settle the liabilities would be protected under this Law, to be welcomed and supported by them.

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