Before representatives of some 700 companies including the owners of Macedonia’s largest 250, as well as before representatives of the Macedonian economic chambers, Prime Minister Nikola Gruevski announced new economic measures that would help resolve problems in the real sector.

The debt crisis reflects on the Macedonian economy. The country is in recession and the biggest problem for all business owners is the delayed VAT refund. Prime Minister Gruevski emphasized that Macedonia had thus far been an example, considering VAT refunds were made within 30 days. Because the problems of the companies are problems of the government, he said, setting government liabilities toward private companies will begin immediately and be over by end February 2013. The funds for realization of this plan have been provided from the World Bank.

“The change of the concept is going to drive the budget deficit this year by 1 percent and next year by 3.5 percent, yet the funds of the World Bank will be approved at a favorable interest rate of 4.5 percent,” the prime minister said.