Flash News
admin1 – October 21, 2008 – 11:25am

- The financial crisis has dealt a heavy blow to the shoe-producing and textile industries in Macedonia. In the region of Kumanovo, shoe-producing facilities' orders dropped by 80 percent. Managers say the state has to cut duties to help some 2,000 people keep their jobs. Textile businesses are losing orders too, as a result of which the share of this industry of Macedonia's total exports dropped from 46 to 36 percent. Managers fear massive redundancies bearing in mind that foreign investors would start looking for cheaper labor force.