Situation involving the eurozone is quite complex and its impact will be also felt in Macedonia, especially in the real sector. However, it's positive that the banking system is stable and major disturbances are not possible, economy experts argue.
"Developments in the eurozone are not favourable for our economy as well, because Macedonia's export is mainly linked to the European Union. I'm pleased that in addition to Europe's turmoil, Macedonia's monetary, banking and fiscal system is the brightest point. It is stable and no major shocks are expected. The real sector will be affected, which in Macedonia largely depends on the circumstances in Germany being country's biggest trade partner. I expect Germany to achieve high growth rates in due time, which will be beneficial for the Republic of Macedonia, university professor Ljube Trpeski stated Friday after an international conference held at the Faculty of Economy in Skopje.
In any case, Trpeski added, a difficult period is ahead. What we could do is to expand export simulations, because solely export companies can pull Macedonia out of a crisis.
Developments in Greece and Portugal cannot cause major trouble even if they exit the eurozone, according to him. It would be a problem if Italy and Spain followed that path.
University professor Trajko Slaveski said that country's macroeconomic policies were developed well and it was also favourable that Macedonia had lower taxes, flat tax and a stable financial sector.
"There is no safe protection against negative external shocks in most cases. But some defensive mechanisms, such as stable financial sector and macroeconomic policies, can serve as protection. However, negative consequences cannot be entirely alleviated," said Slaveski adding Macedonia had the capacity to exit the crisis with slight consequences.
He noted that currently there were no reasons to change the fiscal course of the denar as long as the euro existed as a currency.
