Macedonia's economy in 2012, according to current projections by the Government, the central bank and the International Monetary Fund, will mark a growth, even though it is expected to be affected by the eurozone crisis.

According to the Government, the economy in 2012 is to rise by 4.5%, the National Bank of Macedonia (NBRM) forecasts a growth of 3% and IMF's projection is 2%.

There is real threat the crisis in Europe to spill in all countries, which requires utmost vigilance in carrying out economic policies, government officials have said. Macedonia is prepared for every scenario, the situation will be monitored and additional measures will be made if necessary.

The budget has been designed in a flexible mode in order to be adjusted to occurring circumstances and risks if need be. The main factor of trust and fiscal policy for 2012 is maintaining a budget deficit below 3% i.e. 2.5% - the projected per cent. Strict fiscal policy will be implemented next year as well and there will be more funds for capital expenditures in a bid the economy to be supported and work to be provided for Macedonian companies in such circumstances.

The monetary policy in 2012 will be adequately tailored for upcoming challenges. The situation is being monitored and if necessary, NBRM has said it will alter its instruments in an attempt to retain stability i.e. low inflation, stable denar exchange rate and not to threaten the banking sector. However, it is believed that there will be no need of strong measures.

Thus far, according to the Government, the economy is stable, the financial sector is safe, while foreign exchange reserves are at satisfactory level and indebtedness and budget deficit are low.