Macedonia is not going to face a high deficit, because last year too in the heat of the crisis the country noted the second lowest budget deficit in Europe, said Prime Minister Nikola Gruevski regarding the conclusion of the IMF that the economy was recovering yet a challenge to many countries would still be their high budget deficits.

According to Gruevski, the second most important reason for the low deficit is the fact that the country made early repayment of its debt to international institutions and so from the point of view of the former debts and the current borrowings, according to the World Bank rankings, Macedonia is in the group of low-debt countries.

“Macedonia’s deficit last year was 2.77 percent of GDP and that was the second lowest budget deficit in Europe. This year the budget deficit has been projected at some 2.5 percent, which means that Macedonia is not going to have a deficit problem,” the prime minister said.

Also, he believes that the industrial production rise of 20 percent in December last year is a sign that the economic crisis is gradually being overcome.