Vienna Economic Forum Financing of Investments. Assistance from the EU and International Financial Institution H.E. Trajko Slaveski, PhD Minister of Finance.

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Presentation transcript:

Vienna Economic Forum Financing of Investments. Assistance from the EU and International Financial Institution H.E. Trajko Slaveski, PhD Minister of Finance of the Republic of Macedonia

BASIC MACROECONOMIC DATA OF THE REPUBLIC OF MACEDONIA -GDP - 6.5% growth in the second quarter of Inflation - It started to decline from the middle of the year - Expected inflation by the end of 2008 from 5% to 5.5% -FDIs - EUR 301 million in the first eight months in They are envisaged to reach 8.3% of GDP by end

BASIC MACROECONOMIC DATA OF THE REPUBLIC OF MACEDONIA Foreign direct investments (% of GDP)‏ Foreign direct investments in EUR million Current account deficit (% of GDP)‏ External sector Inflation (CPI, average) ‏ Gross Domestic Product - real growth rate Real sector 2010 proj.2009 proj.2008 proj

BUSNISESS ENVIROMENT -Tax reforms -Flat tax and lowering of social contributions -Regulatory guillotine -Leading business portal Forbes ranked Macedonia at the 50th position in running business in its Best Countries for Business Report (leap by 32 places from 2007)‏ -Doing Business Report confirmed the achieved progress, ranking our country at the 71st position (79th in 2007)

PUBLIC DEBT General Government debt is significantly lower than the Maastricht criteria and amounts to only 20.7% of GDP (first half of 2008)‏

FURTHER INVESTMENTS OF THE GOVERNMENT OF THE REPUBLIC OF MACEDONIA Strategic investments of the Governemet of the Republic of Macedonia - road infrastucture - railway infrastructure - energy sector

BANKING SECTOR - Macedonian banking sector remains highly liquid, solvent and profitable - Adequacy ratio of the total banking sector of 15.6% (almost double the Basel Standard). - Banking sector in the Republic of Macedonia is stable and it is able to amortize the external shocks at the moment.

EU ASSISTANCE Official candidate status since December 2005 Acreditation of all five IPA componenets is expected in 2009 Total EU assistance to the country since 1992 amounts to more than EUR 870 million.

Thank you for your attention!