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Wednesday, October 17, 2018, 

Fiti: Lowered GDP projections owed to mini-crisis

Fiti: Lowered GDP projections owed to mini-crisis

Skopje, 9 October 2018 (MIA) - The lowered GDP growth projections by the World Bank and IMF are expected and owed to the mini-political crisis, says Macedonian Academy of Sciences and Arts (MANU) president Taki Fiti.

"Investors' expectations change in these situations, which is crucial in the economic growth projections. The law of economics says expectations have a big effect. People do not invest if our companies and foreign investors expect worse periods and political tensions ahead. In case of elections, the entire energy and efforts will turn to them. Unfortunately, people think less of economy and business in times of elections, while domestic and foreign investors are restrained," said Fiti at an event marking MANU's 51. anniversary on Tuesday.

According to him, it would be better if the Parliament endorsed the constitutional amendments, thus avoiding elections, which are accompanied by additional costs and tensions.

"Let's turn to the Euro-Atlantic processes that are crucial for Macedonia. Our approximation to NATO will result in a large influx of FDIs. EU and NATO deliver stability, and stability leads to improved performances," stressed Fiti. ik/14:34

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