Prime Minister Hristijan Mickoski said that the initial economic indicators for the year are encouraging, and that a true boost is being felt in the second half of the year, when the funds made available through a state-to-state loan from Hungary will be put into effect. Macedonia is lending an initial half a billion EUR from Hungary to develop local infrastructure and to support businesses.

The Parliament approved the 500 million EUR loan and I expect that it will begin to support the Macedonian economy in the second half of October or the first half of November. Macedonian companies will be able to begin using 250 million EUR. I invite the banks to show solidarity with the businesses and to not increase the interest rate when they make these funds available. If they fail to do so, we will route the loan through the Macedonian Bank for Development and the existing mechanisms tha we have. We don’t want to place additional burdens on the Macedonian economy, said the Prime Minister.

He pointed to encouraging indications of industrial and GDP growth and the reduction of inflation to point out that the economy is healing, as well as to the 0.25 percent reduction of the interest rate. Prime Minister Mickoski added that salaries will continue to grow, but that the currency they are paid out in will stop being devalued.