2nd November 2018, Skopje – Government securities will be listed on the Macedonian Stock Exchange. They will thus become available to foreign institutional investors as well, while increased demand will provide for lower interest costs for the country. This was announced by the Minister of Finance, Dragan Tevdovski, at the Sixth ERSTE Investors’ Breakfast.
-We are witnesses of boosted activity on the Macedonian Stock Exchange. Since the beginning of the year, both volume of trading and value of MSE Index have registered significant increase. I would hereby like to announce that Ministry of Finance is in the process of negotiations with the Macedonian Stock Exchange for the government securities to start being listed on the stock exchange. They will thus be available to foreign institutional investors as well. Increased demand will provide for lower interest costs for the country. At the same time, both liquidity and transparency at secondary trading will increase, Tevdovski said.
Minister of Finance pointed out that the Ministry adheres to the European practice as regards the capital market. Accordingly, Securities Law, adopted in 2005, will be substituted with two new laws.
-These Laws will upgrade the standards on transparency on the market, introducing higher level of protection against abuses in line with the European practice. When designing the reforms, the Council for Capital Market Development also plays an important role, having the associations of banks, securities, insurance supervision and investment funds as its members, in addition to the regulators, Tevdovski pointed out.
Minister of Finance said that the Government was committed to the reform process. He also underlined that the business climate improved and the Government applied fair treatment to all investors. Activities are being undertaken aimed at systemic solutions in public finances, and fiscal transparency has already been significantly improved, Tevdovski stated.
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