Chambers of Commerce warn: If the crisis is not resolved, we are headed towards bankruptcy


If you spend and do not add, if there are no investments and new production, there is no possibility for loans and sources of funding, then nothing is impossible, even bankruptcy. This was today’s warning of the heads of the Economic Chamber of North-West Macedonia, Chamber of Commerce, Union of Chambers of Commerce, Bulgarian-Macedonian Chamber of Commerce, Turkish Chamber, Union of Israeli companies.

Their common position and message is sooner stabilization and normalization of political and economic crisis to avoid the worst scenario.

They said investments, tourism, and the uncertainty of the arrival of migrant workers are the most affected by the crisis.

– The bad political situation affects foreign and domestic investments, tourism, and reduced numbers of tourists and migrant workers for security reasons cannot return this summer. This will decrease their deposits, which will put the stability of the foreign exchange reserves and expenditure into question. These are warning signs of emptying the treasury. Investments that were agreed are being canceled. I personally have such experience with my company – said President of the Economic Chamber of North-West Macedonia Menderes Kuchi.

He warned that if there are no tourists, new products are not created, and if we have reduced imports from neighboring countries, as well as exports, for the first time, then everything can happen. Without investments, there is no growth and development of GDP and the measures for new employments cannot be realized.

– Safety is important to foreign investors, they do not want chaos. They want previously known laws and legislation upon which to plan their activities for profit. In these circumstances, it is possible for them to withdraw their capital. Hence, we should do everything for it not to happen – Kuchi added.

Chambers will soon come up with concrete draft measures to the state institutions which should be taken to avoid the thing they warn about.

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