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Friday, September 21, 2018, 

Euro-integration success to speed up economic growth: FinMin

Euro-integration success to speed up economic growth: FinMin

Skopje, 15 September 2018 (MIA) - A successful NATO and EU accession process is expected to speed up the economic growth, which could be higher than the projected one, says Finance Minister Dragan Tevdovski in an interview with MIA.

"There are enormous benefits of the EU accession, because of the grants at disposal, with European taxpayers helping us to build highways and other infrastructure, filtering stations etc. The approximation also means better regulations and meeting standards in all fields," says Tevdovski.

He adds that NATO is the most powerful military alliance and a guarantee for security and investors.

"When planning to invest, a company first thinks about security, and NATO is the guarantee for this. Regional countries that joined NATO before us have multiple positive effects in the economy. If we look as foreign investments, for example in Montenegro, prior and after its NATO accession, they have doubled. It is similar with Albania and Bulgaria," says Tevrovski.

According to him, gross investments in countries that joined NATO in 2004 have increased from 25 to 31 percent of the GDP.

"Investors put their money in places that are safe and secure, and this is much more important than other factors such as taxes and environment for doing business. Investments mean new production capacities, new equipment, new jobs, which on the other hand means secure salaries, increased spending and advancement of the economy. These are the effects to be expected in Macedonia too. Furthermore, creating competition among companies will attract more expertise, meaning higher salaries and improvement of the living standard," notes Minister Tevdovski. ik/09:52

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