20th January 2019, Skopje – NATO membership will be a catalyst for economic growth in Macedonia, Minister of Finance, Dragan Tevdovski, said. He points out that stability and international position the country gets when becoming a NATO member have resulted in higher investments, increased economic activity, unemployment reduction and better living standard in the countries that joined the Alliance.

– Significant acceleration of economic growth is observed at all countries in the region following their membership in the Alliance. Stability and international position NATO membership provides contribute to multi-fold improvement of more economic indicators. It is, above all, evident at the foreign direct investments. In Bulgaria, for instance, after the country became NATO member, FDIs even tripled, while in Albania, they doubled, Tevdovski said.

He underlined that new investments meant creation of new jobs, new value added, increased volume of trade and higher economic activity.

– For instance, following its membership in NATO, GDP growth in Bulgaria has surged from 2.8% to 6.7% in average. Unemployment in the countries that jointed NATO in 2004 dropped from 11.4% to 6.3% in average. All this has resulted in higher living standard, evident by the increase of nominal GDP per capita, adjusted with the PPP in these countries, Tevdovski said.

This week, Fitch Credit Rating Agency, as well as the renowned Eaton Vance Asset Management Company, point out that Macedonia progresses towards the Euro-Atlantic integrations and that its destiny is with EU and NATO. Fitch states that this intensifies the economic activity, while Eaton Vance sees Macedonia as the most attractive investment destination in Central and Eastern Europe. 

Also available in: Macedonian

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