Tag: finance
Macedonia Economy 02.09.21 | 17:03

Finance Minister still projects growth of 4.1 percent in 2021

Despite dismal economic results so far in 2021, Finance Minister Fatmir Besimi insists that Macedonia will still grow at a rate of 4.1 percent. Besimi also assured the public that the inflation rate will be relatively under control, at 2.1 percent. This won’t be an easy year, and we are aware of...

Macedonia Economy 21.08.21 | 20:50

S&P affirms Macedonia’s junk credit rating of BB-

Standard & Poor’s affirmed Macedonia’s BB- credit rating. Even though this is considered a junk rating, the Finance Ministry insisted that this is a great result. This is another confirmation of the positive economic policies conducted by the Government, said Finance Minister Fatmir Besimi and...

Macedonia Economy 06.09.20 | 11:46

Besimi insists there is enough money to service debt payments throughout the year

Newly appointed Finance Minister Fatmir Besimi assured the public that there is enough money in the budget to cover the debt payment, the deficit and unexpected additional costs of the coronavirs epidemic. Besimi said that the budget will be able to pay out the loans that are maturing throughout the...

Economy 03.08.20 | 19:19

Hours after announcing the record breaking new debt level, the Finance Ministry scheduled a new bond auction

Hours after it was revealed that the debt spiked by a billion in the past four months, and that the central government debt is now over 50 percent of GDP, the Government announced it will borrow additional 38 million EUR. The auction is planned for tomorrow and it includes bonds that will mature in a...

Economy 03.07.20 | 10:17

Macedonian public debt grows to 53,3 percent of GDP

Macedonia’s public debt reached 53,3 percent of GDP in May. It grew by 2,6 percent in just two months, largely driven by the 700 million EUR loan meant to cover public spending because of the reduction in revenue caused by the coronavirus epidemic. Tax revenue is down 9 percent in the first six...

Macedonia 13.05.20 | 10:08

Greek hackers claim they broke into the Macedonian Finance and Economy ministries

A group presenting itself as Greek hackers has published email accounts and passwords of employees of the Macedonian Finance and Economy ministries. The group, calling itself the “Powerful Greek Army” claims that it also hacked the political studies Institute at the Ss. Cyril and Methodius...

Macedonia 25.11.19 | 17:31

Adviser to Finance Minister Angelovska has collected more than 50.000 EUR in public contracts

An adviser to Finance Minister Nina Angelovska has collected more than 50.000 EUR in public contracts from dozens of institutions. Pavle Gacov was an outspoken supporter of progressive taxation and head of a consulting firm before being appointed to Angelovska’s cabinet. Lider.mk has revealed that...

Macedonia 26.06.19 | 12:46

After he was warned it’s illegal, Zaev withdraws his request to be named Finance Minister

Zoran Zaev withdrew his proposal to nominate himself as Finance Minister, after the opposition VMRO-DPMNE party and the Anti-Corruption Commission declared the proposal as illegal. The law on prevention of corruption bans top office holders, including the Prime Minister, from assuming other public positions....

Economy 26.06.19 | 12:31

Macedonia’s public debt inches closer to 50 percent of GDP

The public debt of the Republic of Macedonia grew to 48.5 percent of its gross domestic product in 2018, or a total amount of 5.2 billion EUR. This represents an increase from 46.7 percent of GDP, where the debt was in 2017. The central Government debt amounted to 4.344 billion EUR, or 40.5 percent of...

Macedonia 26.06.19 | 12:21

Anti-Corruption Commission tells Zaev he can’t appoint himself as Finance Minister

The head of the Anti-Corruption Commission Biljana Ivanovska warned that Prime Minister Zoran Zaev can’t assume the office of Finance Minister, as this would break the law on conflict of intersts. The law is clear and it states that the Prime Minister can’t be a minister. The two offices...

Macedonia 23.06.19 | 17:40

Zaev says he resolved all other problems, so now it’s time he focused on the economy

Zoran Zaev explained his decision to nominate himself as Finance Minister by saying that after resolving other major political problems of Macedonia, he can now focus on the economy. Zaev was referring to the concessions he made to Greece and Bulgaria, which he expects will open Macedonia’s EU...

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