Independent Balkan News Agency

Political crisis reduces foreign investments

Political crisis reduces foreign investments
Skopje, 10 June 2016/Independent Balkan News Agency

By Naser Pajaziti

The political crisis in FYROM has strongly reduced foreign investments. This is declared by the minister of Economy, Driton Kuci. According to him, in the past two months foreign investments have gone down by 50% compared to the same period last year.

“The economy is feeling the consequences of the political insecurity in the country, which has been lasting for a while now. Besides the continuous policies which aim at supporting economy and investments in order to reduce consequences in the economy, the political crisis must be solved as soon as possible”, minister Kuci said.

Expert for economic affairs, Zoran Ivanovski said that the political crisis is having an impact on the economic situation and foreign investors.

“Investors are always careful and hesitate when there’s an uncertain political situation in the country. In the world market there is a high competition to attract foreign investors and many countries offer good conditions for a foreign investor”, Ivanovski said.

The head of the Council for Foreign Investments at the Macedonian Chamber of Commerce, Stefan Peter says that the political crisis is having an impact in the economic development and foreign investments in the country. According to him, there is no growth of foreign investments, but investors who are already in FYROM continue with their investments.

“First of all, this situation is not attracting more foreign investors, but on the other hand, current investors continue with their investments. We can say that this situation is not having an impact on what they have invested here”, he said.

The drop of the level of foreign investments in FYROM is also reflected on the data released for the three first months of the year. From January until March, 58 million euros have been invested by foreign investors, or 5,34 million euros less than the same quarter of 2015. /

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