Macedonia to inject 180 mln euros into economy
The Macedonian government said on Wednesday that it has decided to inject at least 180 million euros (about 245.2 million U.S. dollars) into the economy to help tide over the global economic crisis, Xinhua reported.
Macedonian Vice Premier Zoran Stavreski told a meeting of bankers and businessmen that the European Investment Bank has approved a 100-million-euro loan for Macedonia.
"The withdrawal begins in July, and they are to be used as short-term loans for improving the liquidity of domestic companies, as well as long-term loans for investment," Stavreski said.
In addition to the 100-million-euro credit from the European Investment Bank, domestic banks will provide another 80 million euros for small- and medium-sized enterprises, Stavreski said.
Macedonia has taken a series of measures against the global economic crisis, such as rebalancing the budget, facilitating the export of goods and reducing costs. (1 U.S. dollar = 0.7341 euros)