The three-percent GDP growth in 2011, released yesterday by the State Statistical Office, is quite solid and satisfactory, taking into consideration circumstances in Europe, said Vice Premier and Finance Minister Zoran Stavreski on Friday.

"The GDP growth belongs to the top ten in Europe. The economy's rise is satisfactory, taking into account the circumstances where Europe's crisis reached its peak in the fourth quarter", FinMin Stavreski told journalists after today's signing of an agreement over Macedonia's involvement in project "Europa Re".

Pertaining to the confirmation of Macedonia's rating by agency "Fitch", Stavreski said this demonstrated their belief in Macedonia's perspectives, but also represented a signal for national and foreign investors, as well as those who analyze and see Macedonia as a potential EU member.

"It is rare for a European country to receive a confirmation of its rating over the past year. The fact that Fitch has confirmed Macedonia's rating, along with the context in which this was done, i.e. macroeconomic stability and positive effect of the process of opening a high-level dialogue with the EU, shows that the most renowned rating agencies, such as Fitch, believe in Macedonia's perspectives, both politically and economically", he added.

With regards to rise of oil derivatives' prices and whether the Government would undertake certain measures, Stavreski emphasized the situation is monitored, with the possibility of the Government reviewing its instruments at disposal if the situation worsens. However, he said one should be realistic and acknowledge that global oil prices hit all economies.

"There is not a single European country that has produced some measures, since the oil prices depend from other places. Even the United States, which are influential, are contemplating their moves. In this context, we are a small country with limited possibilities, and we are monitoring the situation like other regional states", he said.

Stavreski voiced his belief of a possible intervention by the world's powers towards stabilizing price movements, since the International Monetary Fund has also expressed its concern over effects on the global economy.