Deputy Prime Minister Zoran Stavreski said the Government would not sign a new credit arrangement with the IMF and would hereafter use only its consulting services.

Mark Griffiths, IMF head of mission for Macedonia, said the turbulences on the world money market and the inflation rise could economically destabilize Macedonia and neutralize its economic growth that the state achieved last year. Griffiths believes Macedonia will close this year with an inflation rate of 6 percent and recommended that an annual price increase of 3 percent be kept over the coming years. He advised the Macedonian government to invest in the future only in projects stimulating development.