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The Prime Minister of Northern Macedonia, Dimitar Kovacevski, said that his country is facing one of the most difficult winters “we have to face”, therefore, he added that the demand of the opposition to maintain early parliamentary elections.
The Macedonian opposition has demanded that a meeting of leaders be held to set a date for early parliamentary elections.
Kovacevski stated on May 16 that the war in Ukraine and the economic crisis that has gripped the world are largely reflected in northern Macedonia as well.
“The government is working to prevent price shocks and to provide energy sources for households and industry… We are reviewing the state budget and the Ministry of Finance is reducing costs that should not be done, to have funds to support companies and more categories endangered citizens… The Assembly is a place where there are committees for all areas, where all solutions can be discussed in the most democratic way. “Parliament is also a place where democracy should be nurtured, not boycotted,” Kovacevski said.
Meanwhile, the National Bank on Monday came up with new projections regarding macroeconomic policies that predict an average inflation of 8.8 percent in 2022, in case of gradual stabilization of the economic situation by the end of the year.
Economic growth for this year will not be higher than 2.9 percent or a figure lower than previous projections that predicted growth of over 3.5 percent.
“The pandemic shock, the energy crisis, as well as the war in Ukraine in the first quarter of this year, carry further risks for the Macedonian economy, which, primarily because of food and energy, is dependent on global movements.” said the governor of the National Bank, Anita Angelovska-Bezhoska.
Angelovska-Bezhoska said that the National Bank expects public debt in the medium term to reach 63 percent of Gross Domestic Product.
To deal with the crisis, the Ministry of Finance has announced the borrowing of over 900 million euros, partly through the sale of Eurobonds and the other from foreign banks.
The Energy Regulatory Commission on Monday started consultations with energy companies regarding the price of electricity and after two weeks is expected to come up with the new price. It is not yet known how much the price increase may be, while the increase in fuel prices continues to be set on a daily basis depending on the price on world stock exchanges./Rel
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