Skopje, 30 June 2016/Independent Balkan News Agency
By Naser Pajaziti
Economic Chamber of North West Macedonia (ECNWM) is worried about the political and economic developments in the country. In a recent reaction, this chamber says that the latest budget revision is damaging capital investments.
“It is not only the political crisis of this period which affects the budget’s revision. This also shows that for years in a row, the government has been inflating budget. With this revision, capital investments are reduced by 10% or 45 million euros. Another worrying element relates to the increase of public debt, because it is not in line with economic development projects, but with non profiting projects such as Skopje 2014 and many other similar enormous investments. This sort of performance will soon take public debt to 50% of GDP, which would be fatal for our country, because it would be difficult for us to pay the interest rates”, said the chairman of ECNWM, Nebi Hoxha. /balkaneu.com/