Skopje, 11th December 2012 (MIA) – Opposition SDSM groundlessly claims that by borrowing we are treading the path to that of Greece, because, unlike its debt of 180% of GDP, Macedonia’s debt accounts for 30% of GDP, it has the lowest deficit in Europe and stable macroeconomic parameters.
This was underlined by Vice Prime Minister and Minister of Finance, Zoran Stavreski, today during the amendment debate on the 2013 Draft Budget at the session of the Parliamentary Commission on Financing and Budget.
According to Stavreski, 2013 Budget envisages for liabilities in the amount of EUR 257 million to be paid, which means that this amount is covered with the envisaged borrowing from the World Bank in the amount of EUR 200 million to EUR 250 million.
– Your alleged argument that the country borrows, and even more apocalyptic scenario that we are treading the path to that of Greece, fall flat, Vice Prime Minister pointed out.
He underlined that any internationally renowned economist would consider that the opposition had no basic knowledge if it claimed that Macedonia was similar to Greece. For a country with 30% debt, a deficit among the lowest in Europe and a country in which all parameters were stable, also confirmed by the World Bank, the International Monetary Fund and the European Commission and all others, no one but SDSM said that Macedonia was similar to Greece. Only SDSM opinion is opposite, Stavreski said.
He asked the opposition for a discussion supported with arguments, asking how they could explain the opinion that Macedonia, with a debt of 30% of GDP, could be the same with Greece, which debt accounted for 180% of GDP, and that it had debt and borrowing issues, when all countries in the surrounding, Serbia, Montenegro, Bosnia and Herzegovina, had a debt accounting between 50% and 60% of GDP.
– All the countries are borrowing in the meantime, Serbia issued US dollar bond and took a billion and 700 million American dollars, but its debt accounts for 56% of GDP. Its opposition did not criticize that Serbia is falling apart and that it will experience the Greek scenario. On the contrary, in Macedonia, with 30% debt and EUR 250 million borrowed, to be used for repayment of old debts, most of which were incurred at the time of Branko Crvenkovski, Macedonian opposition speaks ill of us, Stavreski said.
Reiterating previous SDSM claim that Macedonia would pay billion euros in the next four years on the basis of liabilities towards abroad, he underlined that EUR 500 million out of the one billion was funds borrowed by Branko Crvenkovski and SDSM.
– However, we did not make any accusations thereof and we did not say we will not pay liabilities incurred in the time of SDSM. A serious country has to assume its own liabilities as a state, rather than as a political party. We did not accuse SDSM of taking loans for budget support, and you have taken seven loans in the past years as budget support. Now, the credit VMRO-DPMNE proposes, funds we are extended in exceptionally difficult circumstances in Europe with very low interest rate, twice lower that the real one on the capital market, you block it and propose for such funds not to be taken, Stavreski pointed out.
According to him, such behavior of SDSM would result a in EUR 84 million damage for Macedonia if the Government was forced to borrow on the capital market, rather than to take the two favourable loans from the World Bank. – It causes damage for all Macedonian citizens, the business sector, the future generations. It is an irreparable damage. This country has no money so as to spend EUR 84 million because of the caprice of Branko Crvenkovski, Stavreski said.
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