SKOPJE, March 5 (Xinhua) -- Macedonia's financial system is stable and shock resistant, securing support towards the growth of the Macedonian economy, Macedonian Finance Minister Dragan Tevdovski and national bank governor Dimitar Bogov declared Monday.
After concluding the meeting of the country's financial stability committee, the two officials told reporters here that the short-term instability caused by the domestic political turmoil in April and May of last year had been fully overcome.
Tevdovski said that for the first time in eight years there was marked drop in the government and state debt.
"We have secured the Eurobond in the most optimum period and at the best possible conditions, while VAT return to companies is non-selective and swift," the minister said.
According to Tevdovski, this means that liquidity of firms is quickly restored, contributing to their activities and investments.
Bogov highlighted that risks in the banking sector were minimal, while banks were stable.
The bank governor noted that the conditions had been stable for a while now in Macedonia, and so it was necessary to regain investors' trust to increase the demand for loans.
