Ljubljana, 25th June 2011 (MIA) – Macedonian economy will experience an upward trend by 4.5% next year, as result of increased export and investments, leading to growth increase of growth by at least 3.5% in 2011, Vice Prime Minister and Minister of Finance, Zoran Stavreski said in his statement for Reuters.. He expects for budget deficit next year to reduce to 2.2% of GDP compared to this year’s 2.5%, although Macedonia envisages high level of investments in transportation and energy sectors in 2012.
– This year, economy has already started to recover, export increased by 44% in the first four months in2011, Stavreski said in his statement for Reuteurs within the Regional Economic Conference held in Slovenia.
Stavreski believes that export in 2011 will increase from 20 to 30 percents as a result of the high prices in metal industry, being one of the most important export sectors in Macedonia, and by entering new markets such as countries of the Former Soviet Union, North Africa and the Middle East.
At present, around two-thirds of the goods from Macedonia are exported to the European Union. In March, Government drew upon EUR 220 million under the IMF Precautionary Credit Line out of the EUR 390 million available. Both the IMF and the Government projected growth between 3% and 3.5% this year.
Staverski also pointed out that Macedonia is sure that it will manage to maintain inflation below 3% annually on the medium run, being 4-percentage decline of inflation this year.
– As long as we keep fiscal discipline and budget deficit at low level, I believe we will face no problems as regards inflation control, Vice Prime Minister and Minister of Finance Zoran Stavreski said.(MIA)