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ECРУOБNРOИMКYА
ministries is delayed probably because of however of Brexit as well, the prices of the
the political conditions. We hope that af- raw materials and other external factors
ter the elections, starting from next year, additionally complicate the environment
mining will be performed in better circum- where the domestic companies act. If one
stances”, the President of the Macedonian makes judgments according to the progno-
Mining Association Nikolajcho Nikolov ses of the Government, that next year one
stated recently. should expect moderate economic growth
of approximately three percent, record
The metal industry this year is going capital expenses, however also record to-
through difficult days – in the first seven tal expenses of 3.3 billion Euros, as well
months the fall of the production was 9.1 as reduction of the budget deficit of three
percent compared to the same period last percent of the GDP, which according to
year, mostly due to the nonoperation of the the economists is quite an ambitious goal.
lead and zinc mines, Zletovo and Toranica.
This also includes the prices of non-fer- “All capital expenses do not affect the
rous metals which are stabilized, however economy equally. Some, such as the one
at a low level they enable the mines to op- in energetics, have direct influence. For
erate, however without creating the profit example, the gasification will have a di-
which is required for development. How- rectly effect on companies to reduce their
ever, the favorable circumstance is that expenses, because gas is cheap and en-
the prices do not tend to further decrease, vironmentally friendly fuel. The similar
which would otherwise lead to closure of applies with the construction of other
some facilities. energy capacities because Macedonia im-
ports electricity. On the other hand, the
There are 173 active companies in min- construction of the highway, for example,
ing, which participate with 10.1 percent has direct positive impact on the economy.
in the industrial production, while in the However, there are also expenses which
processing of non-metals there are 332 ca- are included in the item capital expenses,
pacities with 5.14 percent participation in which have a small or no influence on the
the structure. There are 12.600 employees economy as a whole, such as the construc-
in these companies, that is, 1.7 percent of tion of monuments, etc.”, stated the uni-
the employees in this country. versity professor Nikola Popovski, at the
margins of the dispute on the condition
Expecting the latest economic progno- of the public debt and the strategy for the
ses of the National Bank of the Republic monetary policy, which was organized by
of Macedonia, the Committee for Opera- the foundation Friedrich Ebert in Skopje.
tional Monetary Policy of the central bank
in the middle of September estimated that Will the policy perceive the complaints
the economic activity in the second quar- and the needs of the businessmen? It
ter continued to increase with a similar would be better for everyone if this is so.
pace as in the first trimester, however that However, even if an unfavorable climate is
“compared to the projection, the growth retained, as one of our businessmen says,
in the second quarter is lower than the the business would have to fight. “In such
expected one due to the lower growth of conditions, businessmen take abnormal
the gross investments compared to the measures only in order to survive. And
projected one.” In addition, the data about there is no other solution for them, if they
the GDP for the first half of this year are started a business, if they invested funds,
lower than the expectations with the April if they mortgaged a house or an apart-
projection, which as the NBRM says, “it ment. And now they should wait for the
indicted a potential downward deviation situation to be settled.” They cannot wait,
from the projected economic growth for the have to work because the bank does
the entire 2016”. not postpone the installments. Regardless
of the difficult conditions, a business must
The issuance of the new Euro bond, fight and work in order to find a way out”,
the disputes whether the Budget for the say the businessmen.
next 2017 should bring the exiting or the
future composition of the parliament,
October 2016 37
