Skopje, 8 July 2015/Independent Balkan News Agency
By Naser pajaziti
University professor and former Finance minister in FYR Macedonia, Trajko Slavevski, declared that if FYROM is not careful with its debts and loans, then it can face scenarios similar to the one in Greece.
Slavevski issues these comments following yesterday’s decision of the government in Skopje to borrow another loan amounting to 25 million Euros, in order to cover budget deficits.
“Fast borrowing, which increases public debt, must have some sort of epilogue. It’s good to have a particular reserve for a rainy day or to borrow when it’s necessary or in circumstances when there are growths in GDP”, Slavevski declared.
In FYROM, foreign debt amounts to 6 billion Euros or 50% of GDP. Commenting on the Greek crisis, Stavrevski underlined that this country may expect the worst to happen, its exit from the Eurozone and the need for a national currency, something which would not at all be easy. /ibna/