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FYRMacedonia's economy to recover with domestic savings and resources, experts say

13. November 2010. | 07:55

Source: MIA

The recovery of FYRMacedonia's economy should be based on domestic savings and domestic resources. Investments in capital infrastructural projects is necessary where local companies will be engaged.

The recovery of FYRMacedonia's economy should be based on domestic savings and domestic resources. Investments in capital infrastructural projects is necessary where local companies will be engaged, Macedonian and foreign experts concluded debating at an international conference titled "The Challenges to Economic Theory and Policy in the Aftermath of the Global Economic Crisis" in organization of Skopje-based Faculty of Economics.

According to academic Taki Fiti, it was essential to invest in big infrstructural projects in the energy sector, in roads and the railroad and to engage domestic workers in order the effects to be bigger.

He said that the open line of credit, recently offered by the International Monetary Fund (IMF), should be accepted and its funds to be invested in major infrastructural projects.

Professor Trajko Slaveski stated that it was preferable to take the IMF loan and its funds to be used as a reserve, which might make the country stronger before investors.

Professor Josef Brada from the US Arizona University said the recovery of Macedonia's economy should be based on domestic savings and domestic resources, instead expecting foreign capital to be invested in the country.

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