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Economic Indicators AVERAGE GROSS SALARY IN 2012 € 498 per month CURRENCYCURRENCY Macedonian Denar pegged to the DM/€ for the last 15 years (€1= MKD 61.3) EXPORT BY YEAR (US$ bn) INFLATIONINFLATION Low inflation: average 2% annually over the last 4 years 2009:-0.8%; 2010:1.6%; 2011:3.9%; 2012:3.3% Source: National Bank of the Republic of Macedonia CREDIT RATINGS 2012 Standard & Poor’s: BB Fitch: BB+ BUDGET DEFICIT & STATE DEBT Budget Deficit, 2012: 3.3 % of GDP State Debt,2012: 33.8 % of GDP FDI BY YEAR (US$ m) GDP GROWTH(%)

Unbeatable Fiscal Benefits General VAT Rates * Flat rate Source: PricewaterhouseCoopers (Taxes at a glance 2012), National Investment Promotion Agencies 10% Corporate & Personal income tax (among the lowest in Europe) 0% Tax on retained earnings Double taxation treaties with many European countries 0% tax for operation in a Technological Industrial Development Zone Real estate taxes at 2% - 4% VAT at 18%, with 5% on specific items FTAs with EU, EFTA, CEFTA countries; Turkey and the Ukraine; providing access to over 650m customers Personal Income Tax