Wirtschaft Mazedoniens - Економија на Македонија - Economy of Macedonia (Rep. of)

[Zoran]

[h=3]EBRD improved the forecast for Macedonian GDP growth[/h]Labels: Finanzen, Wirtschaft

Macedonian economy improved in 2013. It is noticed annually rising at average of 3.4 % in the first three quarters of 2013, mainly due to growth in investment and exports recovery. Inflation fell and the country continues to make efforts to attract necessary foreign investment, which should contribute to economic growth in the coming years. This is EBRD economist’s estimation for the Macedonian economy.

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European Bank for Reconstruction and Development (EBRD) in its latest report forecasts slow recovery of the economies in the countries where it is present, improvement of the situation in most developed economies, including the U.S. and the euro zone. EBRD economists on global level for this year predict modest growth of 2.7 %, which coincides with their November projection, but it is increasing, because in 2013 the growth rate was 2 %.


According to the forecasts of EBRD economists, the Macedonian economy during this year will rise to 3 %, which is upward adjustment of 0.3 % from the November forecast.


- The economy of the Republic of Macedonia in 2013 is improved. It is rising annually with average of 3.4 % in the first three quarters of 2013, mainly as a result of continued strong growth in investment and recovery of exports of some products. In 2013, the inflation declined and the country continues to make strong efforts to attract the necessary foreign direct investment. These efforts should help the prospects for economic growth in the coming years. Growth will remain strong, approximately 3 % in 2014, due to expected growth in exports and the increase in domestic consumption and investment, this is the EBRD economists estimation of the Macedonian economy.


The other countries in Southeastern Europe with higher GDP growth, besides Macedonia is Kosovo (3.5 %), while all other countries will be with less growth in economies: Montenegro (2 %), Bosnia and Herzegovina (1.8 %), Bulgaria (1.8 %), Albania (1.7 %), Serbia (1.3 %) and Croatia (1 %) or according to EBRD, the average GDP growth in the region of Southeast Europe will be 2.1 %.


- In all SEE countries that were in recession in 2012, in 2013 was recorded positive economic growth. They are Bosnia and Herzegovina, Macedonia, Montenegro, and Serbia, while growth in Romania is expected to rise up to 2.5 %. As a result, the average growth in the region of 0.4 % in 2012 rose to 2 % in 2013. Intensive exports and improved yields from agriculture were important drivers for recovery of these economies. However, unemployment remains high in the region, says the report.






For sustained recovery EBRD, economists suggest countries in the region to continue with structural reforms and deal with the consequences of the crisis, including high rates of non-performing loans and long-term unemployment.


As the emerging economies, they still suffer because of capital reflux and according to the EBRD, will it probably take some time, given the expected gradual tightening of the monetary policy of the United States.


For the first time since 2011, the net private capital flows are negative in the region of EBRD in the third quarter.


- World Economy shows positive signs, particularly in advanced countries. However, the EBRD region is not yet out of danger and faces many challenges, says EBRD chief economist Erik Berglof.


EBRD indicates that reducing the level of debt, especially in some countries of Central Europe and the Baltic region (CEB) and South Eastern Europe (SEE) is factor that delays the credit growth.


The report highlights the increase lending in local currency in many countries of Central and Southeastern Europe, such as Hungary, Poland, Bulgaria, and Macedonia.


-According to the analysis of the EBRD, the availability of loans in foreign currency in these countries is influenced by the process of reducing the level of debt, while loans in local currency experience moderate

 

[Zoran]

Iraqi companies interested in Macedonian agricultural products


JANUARY 28, 2014BY ALEKSANDRAIN MACEDONIACOMMENTS

Companies of Kurdistan, an area in northern Iraq, are interested in importing Macedonian agricultural products, especially fruits, and investment as well. They want to establish extensive business links with partners in the country and significantly raise the level of cooperation.

As was said at today’s business forum at the Economic Chamber of Macedonia, except visas and lack of diplomatic and consular missions, the current problem for the minimal exchange are meager information between the two countries for their economic conditions, opportunities, benefits, potentials.
- We have very little information on the Macedonian economy and trade. That is why we came here, to get to know directly, to establish direct relations with your companies, which will be a bridge for further cooperation. The potential is huge and it must be used, Yaseen Raheem Faraj of Commerce and Industry Chamber of Sulaimany said.
Kurdistan realizes 17 percent of the total income of Iraq. It has 6.6 million inhabitants, has broad autonomy and free customs area, rich in oil and minerals. It is an exceptional opportunity for Macedonian companies specializing in the construction, tourism and agriculture. The metal sector, as well as pharmaceuticals is also attractive for cooperation.
- We want to re-build our economy, to make progress in industry and agriculture. But we are interested in investing in Macedonia. We have imported your products so far, most fruits, but we want to expand our cooperation at all levels, as well as communicate directly with farmers, said Raheem Faraj, expressing confidence that Kurdistan is 100 percent safe and can be used to enter and conquer Iraq.
According to the Chamber of Commerce, the trade between Macedonia and Iraq is tenuous. However, this is a promising market for us.
In order to formally strengthen business contacts, Industry Chamber of Commerce of Sulaimany and the Economic Chamber of Macedonia signed a cooperation agreement today at the Forum.
The business delegation from Sulaimany remains in Macedonia until February 2.

 

[Makedonec do Koska]

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[TD="class: contentheading"]Macedonia's GDP in December rises 9.5%, highest in Europe[/TD]
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The European Union for the month of December recorded a decline in the overall GDP of the Eurozone by -0.7%, surpassing the predicted -0.3%.
Macedonia painted somewhat diferent picture, registering a 9.5% GDP growth, highest in Europe.

According to Europe's Statistical Office, numerous European economies registered negative GDP and industrial output. Estonia posted -5.7% decline, Slovenia -2.7%, Yunanistan -2.6%, Holland -2.6%, Portual -0.7%. The biggest challenge for the Eurozone was negative industrial outputs in the Energy sector -2.7%.

For 2013, the biggest GDP growth was recorded by Romania with 7% and the Czech Republic with 6.7%, while the biggest decline in GDP was recorded by Malta with -7.3% and Ireland with -6.
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[Zoran]

New Jobs in “Rontis”, the number will rise to 500 people


The Macedonian -Swiss medical devices company “Rontis” in Veles is opening a new plant. Experts assembled completely new production line in second plant, in which the number of employees will increase from the current 270 to over 500 workers, Vecher.mk reports.






Currently the engineers’ attention is connected with the process of sterilization which should very soon become operational in the factory as a separate department.


- Our forecasts for this year are that production capacity will be increased by 50 percent and we are ready for that. Currently we have engaged 270 workers. We have sophisticated machines and equipment that ensure the quality needs of the global medical market. In production we use raw materials i.e. granulate with a high degree of purity and plasticizers that guarantee the quality of our products – the director of the company Bojana Dimovska said.


According to Dimovska, along with the new plant’s preparing, soon will be announced advertisement for new workers, who due to the specificity of the products will have to go to training for some time. With the commissioning of the new plant they will be ready to immediately start with the production.


With the opening of the new plant, the company “Rontis” from Veles will not only increase the production of medical devices, but plans to increase the number of employees 200 to 250 new workers, which will help solve one of the thorniest problems of Veles- the unemployment.


The company, located in the former Svilare plants, is working successfully for years. Last year the Macedonian -Swiss company “Rontis” has made the greatest production of medical equipment.

- - - Aktualisiert - - -

Bulgarian investment opens 100 jobs positions


Bulgarian company “Filkab” is the new investment of 3.5 million euro with production capacity for electrical materials that will create 100 job positions.






The Minister for Foreign Investment Jerry Naumof and company’s management today announced the decision for investment, which is already present in the Macedonian market for 10 years.


The company facility will cover 10 thousand square meters in Vizbegovo, Butel and produces substations for power transmission. The production is destined for the domestic market.


- The investment in Macedonia is sign of confidence in our economy and government policy, said Naumof.


He added that the first contact began a year ago and that with hard work in the last five months and with the support of the Prime Minister was found suitable solution for this project to become reality.


- This investment will be great economic boost for the area of Skopje because it will provide more than 50 jobs at the initial stage and opportunity for more than 100 new jobs positions, when the investment will operate at full capacity. In addition, Macedonian local companies that will perform the construction work will have benefit from this project, said Naumof.


He expressed the hope that this success story will be additional incentive for other Bulgarian companies who want to expand the regional market and beyond.


He announced that currently, he works with several other Bulgarian companies from the agricultural and mineral resources sector, which are willing to invest in the country.


Company Filkab with this investment seeks to strengthen its position in the regional market and beyond. – The main motivating factor for the company was the desire, which on the other side is present in public policy, improving the business climate and attracting foreign investment. We say this as about 10 years ago at the beginning of our work in Macedonia, we faced with many difficulties in realization of our plans, said Mile Shaoski, representative of Filkab.


So far they have invested about one million euro in property, projects and storage facilities. – We believe that the decision to create our own production and logistics capacity in Macedonia would strengthen our position not only at the local market, but this capacity will be the main logistics center for supplying the markets of all the Western Balkan region, said Shaoski.


Nikola Avramov , Bulgarian pretsvanik Filkab believes that there is a difference in working conditions than ten years and that it is obvious .


The company in Bulgaria has 15 – year history . It started with trading, then produce a variety of technical and product lines . Works in many countries outside Buarija like Romania , Greece , Cyprus , Germany , Albania and Kosovo, and the intention is to develop similar activities in Macedonia

 

[Zoran]

Presentation of the Macedonian model to attract investments in Dusseldorf


German business centers Dusseldorf and Stuttgart are the new destinations where the Prime Minister along with the government’s economic team will present the Macedonian model for attracting investment and the benefits that the Macedonian government offers to foreign investors.

Sie haben keine Berechtigung Anhänge anzusehen. Anhänge sind ausgeblendet.

Business Forum organized in cooperation with the Financial Times, MIA reports, will be held in Dusseldorf this evening, where the Prime Minister is expected to point out the benefits that are offered to investors, such as the lowest tax package for doing business in Europe and the most favorable pack flat and low taxes.


Deputy Prime Minister and Minister of Finance Zoran Stavreski, Minister of Transport and Communications Mile Janakieski and the Directorate of Technological Industrial Development Zones CEO Viktor Mizo will inform the attendees about the reforms, achievements and projects in many areas such as energy, road infrastructure, industrial development zones, tourism etc.


Certificate of good business conditions offered in Macedonia is the projected extension of the work of the Belgian company “Vanhol”.


The owner of the company Bernadette Vanhol says that 90 buses from the factory in Bunardzik have already been exported in the United States, but they plan to begin placing products on the European market.


- Currently we have 450 employees. We want to grow and start to sell in Europe. For this we need more staff, and we will try to find local suppliers, Vanhol said.


She expressed satisfaction with the investment conditions offered in Macedonia and the support they receive from the government.


- We are delighted and surprised by Macedonia. We came from Belgium and Macedonia was unknown to us, but we are satisfied with the government, the friendly people are the high quality education, Vanhol said.


Among the German companies that used the opportunities for investment in Macedonia are Drexler Mayer and Kromberg & Schubert, and Makard confirmed their investment.


Intensification of economic and political cooperation with Germany is of particular importance for Macedonia considering the economic and political influence that Germany has in the European Union, in particular the impact and significance that Germany has in Southeastern Europe.


Germany is the largest trading partner of Macedonia for 2013. 20 percent of total trade with the world is done with Germany.


As part of his visit to Dusseldorf, the representatives of the government team will meet with Deputy Prime Minister and Minister of Finance of North Rhine Westphalia, Norbert Walter – Borjans.

- - - Aktualisiert - - -

EC: Macedonia with the second highest GDP growth in Europe last year


Macedonia’s economic growth in 2013 was among the best in Europe, according to the European Commission’s winter forecast 2014, MIA correspondent reports from Brussels.

According to the forecast, presented Tuesday in Brussels by EU economics commissioner Olli Rehn, Macedonia’s economic recovery strengthened in the first three quarters of 2013 and was supported by a strong contribution from net exports. Despite a remarkable pick up in private consumption, domestic demand provided only a small contribution to growth, given the major slump in investment. In line with projected developments in foreign direct investment, the forecast expects a turnaround in this profile for 2014 and 2015, with investment strengthening again and the foreign balance proving a drag on growth.

Macedonia’s real GDP in 2013 increased by 3.2% compared to the previous year, with net exports and private consumption taking over from investment as growth drivers. Contrary to earlier official estimates, gross capital formation declined in each of the three quarters, in annual terms, and by a total of 15% on the year.

Stimulated by supportive fiscal measures, private consumption increased by an accumulated 5.1% in the first three quarters. Supported by a benign external environment and by new foreign direct investment, net exports of goods and services contributed positively to output growth for the first time since 2010. Among the sectors, the construction industry largely outperformed manufacturing and grew by 33% on the year, after average growth of 4.8% in 2012.

The profile of growth is expected to change again over the forecast horizon, with a renewed pick-up in gross capital formation, and further gains in household consumption taking the lead. Both public and foreign direct investment are projected to increase, coupled with gradual strengthening in credit extension to the corporate sector. Household consumption is likely to post resilient growth rates over the horizon, in line with expectations for disposable income, deriving from a positive employment trend, higher social transfers, and stable remittances. With new foreign investors taking up production over the horizon, the forecast expects a renewed strengthening of import demand. Notwithstanding the further improvement in major export markets, a renewed, gradual deterioration of the merchandise balance is likely.

Hence, net exports would impact negatively on growth in both years. This drag could prove sizeable, if FDI, the main source of the country’s exports, evolves less vigorously than expected, reads the forecast, titled ‘Recovery is Gaining Firm Ground in Spite of Weaker Investment’.

Aided by the firming recovery and official employment programmes, the number of unemployed had decreased by 4.5% at the end of September 2013, compared to a year earlier. With a significantly smaller increase in the labour force, this lowered the unemployment rate to 28.7%, down from 30.6% a year earlier. The number of employed persons increased by 4%, bringing the employment rate to 40.8%, up by 1.7pp from a year earlier, with virtually no change in the total working age population. However, the unemployment rate for 15 to 24 olds remained largely unchanged at 52% over the year. Driven primarily by the expected pick up of public and foreign direct investment, as well as by a continuation of active labour market policies employment is expected to rise further, albeit less strongly, while the unemployment rate would drop further over the forecast horizon.

While the current-account deficit presumably narrowed somewhat in 2013, due to an improving trade balance, in spite of lower private transfers, the forecast expects it to deteriorate again, due to renewed widening of the merchandise deficit. However, the need for external borrowing to finance the current-account deficit was mitigated in 2013 by a renewed pick up in FDI, and is likely to remain so over the forecast horizon. At the end of the third quarter, FDI inflows reached 3.3% of accumulated GDP, compared to 0.9% at the same time in 2012. Given the increasingly benign investment trends in the country’s major trade partners, and the government’s active recruitment, the forecast expects FDI to remain elevated.

The general government deficit for 2013 was revised in the autumn from 3.6% to 3.9%, following the adoption of a supplementary budget. In view of anticipated consolidation measures, the forecast expects the deficit to gradually narrow to around 3.6% in 2015. After having jumped in 2012 by 5.6pp to 34% of GDP, the general government debt ratio is expected to have increased by somewhat less in 2013. However, overall public debt, which includes the debt of state-owned enterprises, public agencies and public financial institutions, is likely to be significantly higher. It would also comprise the newly established Public Enterprise for State Roads through which the government channels the increasingly important road infrastructure expenditure – and which can borrow on its own behalf with its debt guaranteed by the government.

In conclusion, in order for general government debt levels to stabilise, fiscal deficits would have to decrease more substantially than targeted. This is likely to prove difficult in view of recently implemented pension increases, public wage rises as of this year, and an increase in social transfers.

The EC winter forecast 2014 for Macedonia projects GDP growth of 2.5 and 2.6 percent in this and next year respectively.

 

[Nik]

Niemand investiert in ein Land, das international keinen einheitlichen Namen hat.

Përshëndetje

 

[Zoran]

Niemand investiert in ein Land, das international keinen einheitlichen Namen hat.

Përshëndetje

Schwachsinn.

Bestes Beispiel ist Makedonien. Viele der Investoren haben diplomatische Beziehungen unter dem Verfassungsrechtlichen Namen der Republik Makedonien.

Das du auch jeden Tag ein makedonisches Thema mit deinem Müll torpedieren musst

Pozdrav

 

[Nik]

Schwachsinn.

Bestes Beispiel ist Makedonien. Viele der Investoren haben diplomatische Beziehungen unter dem Verfassungsrechtlichen Namen der Republik Makedonien.

Das du auch jeden Tag ein makedonisches Thema mit deinem Müll torpedieren musst

Pozdrav

Ohhh... etwa beleidigt? :

Schwachsinn. Es gibt beides, "Republic of Macedonia" und "Former Yugoslav Republic of Macedonia". Klar sind die Türken die grössten Investoren, immerhin sind sie Erzfeinde mit den Griechen.

Ist übrigens kein Müll, sondern die Realität, die ausserhalb deines Zimmers existiert. Geh mal raus und atme die frische Luft ein. Das und frische Kastravec werden dir gut tun.

Përshëndetje

 

[Gast3013]

Ohhh... etwa beleidigt? :

Schwachsinn. Es gibt beides, "Republic of Macedonia" und "Former Yugoslav Republic of Macedonia". Klar sind die Türken die grössten Investoren, immerhin sind sie Erzfeinde mit den Griechen.

Ist übrigens kein Müll, sondern die Realität, die ausserhalb deines Zimmers existiert. Geh mal raus und atme die frische Luft ein. Das und frische Kastravec werden dir gut tun.

Përshëndetje

 

[Nik]

Was ich nicht gutheisse!