It will be necessary to rebalance the budget because income is now decreasing, said the President of MANU (Macedonian Academy for Science and Arts), and academic, Taki Fiti during the Conference “Republic of Macedonia on its journey to the European Union, 2020, Experiences, Challenges and Prospects”.
According to Fiti, the new projections from the National Bank for economic growth are just 1.6 percent, clearly indicating that there will be a recession.
“The political crisis has weakened our optimism, investors become pessimistic and households refrain from spending money”, says Fiti.
In terms of salaries within the administration, he said they were a huge item on the budget, so if there is a serious situation, they will have to be reduced.
He said that the citizens who due to the situation, rushed to the banks and pulled out their savings in denars, lost interest. Fiti said that there is no need for this because the banking system is still stable and it won’t come to the devaluation of the denar.
