Jane Armitage of the World Bank has pointed to the low indebtedness of Macedonia in the public sector as a factor of solid macroeconomic policy.
"Macedonia has a very low indebtedness in the public sector, between 25 and 26 percent, compared to regional countries with 46-percent and even 60-percent indebtedness. Due to longstanding solid macroeconomic policy, Macedonia is more resistant to new crises. Its fiscal deficit of some 25 percent is significantly lower than the deficit of neighbouring countries. This is a good position in times when the situation could become even worse," Armitage explained.
She added that Macedonia should not be competitive by cheap labour force because this implies low standard of living. Moreover, highly qualified employees should be created since they would be competitive and would contribute to export.
