Page 48 - Ekonomija i Biznis_oktomvri 2016.indd

РЕMGrУКoavОpБehmРНneoИОn.4tКМaАndИsЈtrАucture of the debt of the corporate sector

million percent
denars

Source: Central Register of Macedonia and calculations of the National Bank of the Republic riod prior to the Global Financial Crisis
of Macedonia during 2008 to 2015, they increased by
* The total net-debt of the corporate sector to the banks and the non-residents is obtained more than three times, which indicates
as a difference between the total debt and the receivables to/from these two sectors. materialization of the undertaken credit
risk by the domestic banking system and
a need of increased caution in the approv-
al of new loans. The indebtedness with a
currency component is dominant in the
structure of the corporate debt *77.5% in
2015), and more than 71% of the credit
liabilities have an interest rate whose
amount can be applied depending on the
market movements of the interest rates,
which indicates increased indebtedness
of the companies to interest rate and cur-
rency risk. Therefrom, the maintenance
of the macroeconomic stability is crucial
to the financial capacity of the corporate
sector, its ability to service the obligations
towards the creditors, as well as the abil-
ity for facilitated access to the sources of
financing of regular activities.