You are here:  Home  >  F. Y. R. O. Macedonia  >  Current Article

The political crisis is preventing economic growth in FYROM

By   /   16/02/2017  /   Comments Off on The political crisis is preventing economic growth in FYROM

The political crisis that continues in FYROM as a result of the failure to form a government following the 11 December elections is preventing economic growth. Experts of economic affairs say that political developments affect economic growth. According to the projections of the current interim government, economic growth for 2017 is predicted to be 3,5%.

The EU too has projected a 3,2% economic growth for FYROM, but economists say that this projection is based on the expectation that the elections would be followed by the creation of a sustainable government.

Economy expert, Elmi Aziri told IBNA that economic growth depends on the political developments.

“In case this political gridlock with an interim government continues, there will be negative effects in the economy and the projected economic growth. In this country we have a growing deficit and constant borrowing, therefore there can be no positive trends in the aspect of economic growth”, Aziri said.

According to him, the country must form a government as soon as possible and this government must carry out a thorough analysis and make changes in the economic aspect.

Fatmir Bytyqi from the Macedonian Northwestern Chamber of Commerce is pessimistic as far as the improvement of economic trends in the country is concerned.

“We are not optimistic that there will be economic growth or a stable government, which will have economy as a priority. Therefore we believe that economic growth will be around 2,5%”, said Bytyqi.

Meanwhile, government in FYROM is projecting a 3,5% growth and the same projection has also been made by the Central Bank of the country. According to the government, the end of the political crisis would restore confidence on domestic companies and foreign investments. /balkaneu.com/

You might also like...

Tzanakopoulos: Eurogroup’s agreement is the most crucial step for the conclusion of program review

Read More →