Deputy PM and Finance Minister Zoran Stavreski officially opened Wednesday the 8th international fair for finances, business opportunities and economic development - FINEXPO 2010 at the Skopje Fair.

During the two-day event, which is sponsored by the Ministry of Finance, financial subjects will be presented including debates and round tables of experts and businessmen.

- The event provides opportunity for presentation of future policies and plans, new products and services of all participants in the financial sector in Macedonia. The exchange of ideas and experiences is of great importance, which will contribute to better structuring of our future strategy for development of financial system, Stavreski said.

He underlined that the government will continue in the future with its efforts to establish stable and safe financial sector in which citizens, businessmen and investor will have confidence.

- Challenges with which financial systems are facing with after the global economic crisis imposed the need of changes in the state regulations and more strict control of the participants in the financial sector, Stavreski said underlying that creating more stable financial system becomes the most important goal in post-crisis period.

He said that the Macedonian government continuously conducts structural reform in financial sector in strengthening the stability and efficiency through providing better regulatory framework and improvement of the business climate.

Macedonian economy in 2011 is expected to note growth of 3.5% with moderate budget deficit of 2.5% and keeping the inflation at 3%. The disciplined budget expenditure – restrictive for non-productive expenses will continue on account to increase of investment in capital projects, Stavreski said.

For easier financing of small and medium sized enterprises, Stavreski said that besides banking also non-banking financial institutions will be included, which will be enabled by adoption of Law on Financial Companies as well as the new frame for leasing companies together with introduction of municipal bonds as a new instrument which are planned for 2011.

Finance Ministry in 2011 plans changes to the Law on Investment Funds and inclusion of the Macedonian insurance companies in the project of the government and World Bank for natural disasters insurance, Stavreski said.

Chairman of ERA Group Gvido Orlandic said that FINEXPO is the last fair event in this year when financial results of the current and the next year are summed up.