NATO UNCERTAINTY HURTS MACEDONIAN ECONOMY
If Macedonia fails to get an invitation to join NATO at the alliance's forthcoming summit because of a Greek veto, the country's already weak economy will suffer greatly, local economists argue.
Investors in the country will be more reluctant, the stock market index would continue to fall and the solvency of the market would decrease, local economists claim.
“We are entering a time with many uncertainties and all of the factors and expectations that were optimistic could stagnate,” economy expert and university professor, Abdulmenaf Bexheti told local A1 TV on Wednesday.
Blagoja Spirkovski, an economy expert from Skopje University argues that Macedonia, as a small country with a fragile economy has no alternative to its NATO and European Union perspective.
“Either it will be a dark zone, or it will enter global integration and adjust its economy accordingly,” Spirkovski told media.
Macedonia’s foreign trade deficit reached around $180 million in January, nearly 45% more than the same month last year, the State Statistical Office announced in early March.
The country is already tackling increasing annual inflation that reached more than 9% in January.
Despite the increase in foreign investment in the first two months of 2008, the country remains behind its neighbours and continues to experience severe unemployment which stands at a staggering 35%.
MD: The name of your country, identity is more important in this matter, let's hope our government sticks to that position.