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The first facility in Kjojlija industrial zone in Petrovec Municipality started working. The logistic center of the Company “Globko Logistic” engaged in

post services is located on 3.500 meter squared. – So far the zone sold out 75 locations, 27 of which have already received con-

struction permits. Some of them are in preparatory phase and others will start build-ing next year in March. In four to five years I expect it to expand in huge industrial zone which will open thousands employments, stressed Transport and Connections Minister Mile Janakieski.

He pointed out he expects investors to soon implement the second and third phase of the facility construction.

– I appeal to every Mayor in Macedonia where there are no industrial zones, to soon engage and sell industrial zone locations because that way the unemployment rate in their Municipality will significantly drop, recommended Janakieski.

Kjojlija industrial zone is located on 195 hectares and soon plans to spread on 28 more hectares. It is located at the entrance of “Alexander the Great” airport near E-75 highway and the railway.

According to Borche Mitevski Mayor of Petrovec Municipality, the low utility bills of only 34 euro cents per meter squared and the low starting price of the con-struction land are the main reasons there is great interest in this zone.

– The preparatory work for Hall construction on 8.000 meters squared has started near “Globko Logistic” and a permit has been issued to a citizen of Turkey to con-struct a hotel at the airport entrance on 24.000 meters squared. Also, “Tinex” will build a Hall on 12.000 meters squared, said Mitevski.

Investor of “Globko Logis-tic”, which was built in less than nine months and cost almost 2 billion euros, is the Company Globeks which has a construction permit to build on additional 3.500 meters squared in Kjojlija zone. Snezana Kokravolchevska owner of Globeks and Globko Logistic stressed that currently there are 200 employees in the company in all 18 branches.

MonthlyMacedonian BusinessMacedonian Business

“GLOBKO LOGISTIC” THE FIRST INDUSTRIAL FACILITY IN KJOJLIJA ZONE

With support of the Macedonian Ministry of Foreign Affairs

Published monthly by MIC

EXCELLENT INFRASTRUCTURE

Macedonia is at the cross-roads of South Eastern Europe, which makes it an ideal

transit and distribution center for products for European markets. The developed road and railway infrastructure, in combination with the small area of the country enables access to every inhabited place in Macedonia in less than 3 hours.

The overall road network of the country totals 13,278 km of roads, with continuous investment in roads in accordance with the National Road Transport Strategy, prepared by the Ministry of Transport and Communications with assistance from the EU. New projects and network main-tenance are carried out according to the Public Investment Program annual updates. The back-bone of the country’s road network consists of the two Pan-European corridors VIII and X.

Page 2 >

GROSS dOmESTIC pROduCT (real annual growth rates, in %)

-1

0

1

2

3

4

5

Q1.2013 Q2 Q3 Q4 Q1.2014 Q2 Q3 Q4

GDP actual

Projection-April 2014

Source: SSO and NBRM projections.

EstablishEd 2001 No. 149 - Vol. XV, 2015

INVEST IN MACEDONIA – NEW BUSINESS HEAVEN IN EUROPE

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2 Macedonian Business MontHly

No. 149, Vol. XV, January 2015

Macedonian Information Centre

Director Dragan Antonov

2001-2015 © MIC, All rights reserved

No parts of this publication may be reproduced in any form without permission form the Macedonian Information Centre. The content published in the Macedonian Business Monthly do not necessarily represent the views of the publisher. The publisher is not liable for errors.

Macedonian Business Monthly Founded in 2001

Editor

Sonja Kiridzievska

Translator

Ema Trenevska

Contributor Sonja Efremova

Published monthly in the Republic of Macedonia

Address Naum Naumovski Borce 731000 SkopjeRepublic of Macedonia

Phone/Fax+389 2 311-78-76+389 2 311-78-34

www.micnews.com.mk

[email protected] [email protected]

page 4 MACEDONIA AND ALBANIA RIVALS FOR “NISSAN”

page 5 FOREIGN INVESTORS PROPEL INDUSTRY FORWARD

page 8 RECORD-BREAKING LOW INTEREST RATES MARKED 2014

page 11 USE OF ENERGY RESOURCES TO GROW 2.3 PERCENT ANNUALLY OVER NEXT 20 YEARS

page 16 MEASURE ON IRRIGATION SYSTEMS TO EXTEND

INSide

Macedonia is at the cross-roads of South Eastern Europe, which makes it an ideal transit and distribution center for products for European markets. The

developed road and railway infrastructure, in combination with the small area of the country enables access to every inhabited place in Macedonia in less than 3 hours.

The overall road network of the country totals 13,278 km of roads, with continu-ous investment in roads in accordance with the National Road Transport Strategy, prepared by the Ministry of Transport and Communications with assistance from the EU. New projects and network maintenance are carried out according to the Public Investment Program annual updates. The backbone of the country’s road net-work consists of the two Pan-European corridors VIII and X.

The Railway infrastructure in the Republic of Macedonia has been put in place since 1873, when the first Railway Track from Skopje to Thessaloniki in Greece has been constructed.Today the railways network is about 900 km in single track lines and normal gauge.Macedonian railway network system is connected north-south with the railway network systems of Serbia and Greece. The total length of the railway infrastructure in Corridor 8 (east-west) is about 306 km on the territory of the Republic of Macedonia and 154 km (or 50%) are constructed and operational. Therefore, about 89 km or 29% of the total length are remaining to be constructed on the link with Bulgaria. About 63 km or 21% of the total length on the link with Albania remain to be constructed. The railway transport is managed by the public owned “Macedonian Railways” and at present, the company is the only provider of railway services in the country.

Macedonia is a land-locked country.The access to the neighboring ports is enabled through the roads and railway links. The closest ports are in Thessalonica, at about 100 km from the Greek border crossing in Gevgelija, and in Durres, at about 150 km from the Albanian border crossing in Struga.Passenger transport exists on Lake Ohrid with smaller ships, from 25 to 150 seats.

EXCELLENT INFRASTRUCTURE Continued from page 1

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Macedonian Business MontHly 3

mACEdONIA’S 2014 INVESTmENT pOTENTIAL – YEAR IN REVIEW

REASONS TO INVEST IN MACEDONIALABOR LEGISLATION – The recently enacted new Labor Law, prepared in ac-cordance with the EU standards, provides increased flexibility of the labor market by offering and promoting flexible and different employment contracts and flexibility of working time. Also, reforms in this sphere have introduced training programs, support for entrepreneurs, as well as improvement of the overall business climate. The average gross monthly salary in 2013 is €502. This amount includes the net salary, personal income tax and social contributions for pension and disability insurance, health insur-ance and employment insurance. The minimum salary for each professional branch is defined by Collective agreements.FREE hEALTh zONES – Health tourism, attracting foreign capital to introduce new health methods and procedures, transfer of new technology, increased competitive-ness, employment and quality of the higher education offer in the field of medicine are part of the benefits expected from the establishment of free health zones. The whole concept is designed to establish a health zone over a greater territory which is likely to be in Skopje on 15-20 acres for hospitals founded and built by foreign companies.INCREASED SUBSIDIES FOR TOURISTS FROM SERBIA, BULGARIA AND BOSNIA AND hERzEGOVINA – The Government decided to increase the amount of subsidies for attracting tourists from Bosnia and Herzegovina, Serbia, and Bulgaria from 25 to 35 euro per tourist. Subsidies for tourists from 6 other states i.e. the United States, Eng-land, Germany, Kazakhstan, Azerbaijan and Qatar are announced for 2015. ThE SOFTwARE INDUSTRy hAS EMERGED AS ONE OF ThE MOST DyNAMIC SECTORS – In recent years, the software industry has emerged as one of the most dynamic sectors of the Macedonian economy. With a growth rate of 7.7 percent in 2009, the Macedonian software industry outran the development pace of the overall economy and became an engine for growth, innovation and competitiveness. Like several other transformation countries in South East Europe, Macedonia has discovered the strategic importance of the software industry and its enormous potential for exports.MODERN DIGITAL TELECOMMUNICATIONS NETwORk – The Macedonian Information Technology market has marked another significant growth in 2009 of 7.7 percent, reaching $164.5 million. Over the five-year forecast period, the country’s IT market is expected to expand at a compound annual growth rate (CAGR) of 5.2 percent, and reach $212 million in 2014. Hardware is the largest and most dynamic segment

of the Macedonian IT market, with a striking yearly growth of 84.7 percent, taking up nearly 62 percent of the total IT market.FREE MARkET ACCESS – Duty-free access to a market of over 650 million customers through three multilateral (SAA, EFTA and CEFTA) and two bilateral (Turkey and Ukraine) Free Trade AgreementsEUR 500,000 IN STATE AID FOR INVESTORS IN INDUSTRIAL zONES – Up to €500.000 can be granted as incentive towards building costs depending on the value of the investment and the number of employees. Land in a TIDZ in Macedonia is available under long-term lease for a period of up to 99 years400,000 EURO INVESTMENT - ThE ROAD TO OBTAINING MACEDONIAN CITI-zENShIP – Foreign nationals who are residents of the EU and OECD countries and have purchased real-estate (house or flat) in Macedonia in an amount of over 40,000 euro will get the chance to be immediately granted one-year stay in the Republic of Macedonia LOw TAXES – Flat corporate and personal income tax rates at 10%; 0% tax on re-tained earnings LOw OPERATIONAL COSTS – One of the most cost-competitive locations in EuropeEXCELLENT GEO-STRATEGIC POSITION – Goods delivered within a day to Central and Eastern Europe and Turkey, and maximum two days to Western Europe FAST COMPANy REGISTRATION – One-stop-shop system for company registration within 4 hoursEXCELLENT INFRASTRUCTURE – Wireless national backbone infrastructure, digital telecommunications system, extensive highway network, two international airports with regular connections to main European transportation centersRESPONSIVE EDUCATIONAL SySTEM – Universities willing to collaborate with incoming investors in meeting the required skillsEXCELLENT FOREIGN LANGUAGE SkILLS – English widely spoken, French and Ger-man embedded in the education system, regional languages in wide use AVAILABLE SkILLED wORkFORCE – A young (42% under the age of 30) and edu-cated workforce with a strong work ethic and excellent industrial relations recordhIGh QUALITy OF LIFE – Highly attractive living and working conditionsPOLITICAL, MONETARy AND MACROECONOMIC STABILITyEU AND NATO CANDIDATE COUNTRy

As a result of a growing interest in Macedonia’s investment potential, a

number of international companies have started operations in the country, both as green-field projects and through different types of asset acquisition and privatization.

Some of the significant foreign inves-tors include Johnson Matthey (UK), Mo-bilkom Austria (Austria), EVN (Austria), Deutsche Telecom (Germany), Kromberg & Schubert (Germany), Dräxlmaier Group (Germany), Van Hool (Belgium), Societe Generale (France), Johnson

Controls (USA), KEMET Corporation (USA), the National Bank of Greece (Greece), Hellenic Bottling Company S.A. (Greece), QBE Insurance Group Limited (United Kingdom), Mittal Steel (Netherlands), Duferco (Switzerland), and Titan Group (Greece), Marquardt (Germany), Coficab (Tunis), Mensan Otomotiv (Turkey), Endava (UK), Apple Land (Dubai), Anthura (Netherlands), Istem Medical (Turkey), ODW-Elektrik (Germany), Key Safety System (USA), Amphenol (USA), KPME (Ukraine),

Teknohose (Italy), Prodis (Russia), Grish-ko (Russia), VPTEX (Netherlands).

According to data of the National Bank, the foreign investments reached 197 million dollars in the ten months of last year.

Source: National Bank of the Republic of Macedonia

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It is expected 2015 to be a year of in-vestments. Some 25 foreign companies

wish to expand their business in Mace-donia and some 15,000 new jobs will be created, said Prime Minister Nikola Gruevski. With some of these investors, agreements have already been signed, as some of them have already started build-ing their production facilities.

Investors that have already started carrying out their investment plans in

Macedonia are Marquardt, which will create 600 new jobs in Veles, Kostal expected to create a thousand jobs, Am-phenol 2,000 jobs, and Antura, company manufacturing flour seeds expected to invest in Kocani.

“Last year 23 foreign companies ex-panded their business to Macedonia, while foreign investments have so far created 13,000 direct new jobs,” Prime Minister Gruevski said.

The good business climate, the eco-nomic growth and the skilled workforce in Macedonia are appealing to Indian companies as well. Many Indian compa-nies are interested in investing in Mace-donia. Two of them have already devel-oped actual projects. One of them in-volves manufacturing kitchen equipment and to this effect a collapsed factory will be restarted and the other investment involves production of tractors.

Japanese automobile manufacturer “Nissan” considers opening vehicle as-

sembly plant in Macedonia or Albania. According to the Albanian Agency

Balkan Web, the company considers withdrawing from other countries in Southeast Europe because of the in-creased expenses and the rat race is now between Macedonia and Albania”. How-ever, it is assumed that Macedonia has the advantage.

-Albania has the advantage position regarding geographic location and lower transport prices from Durres Port. The new logistic park is yet another advan-tage to attract the investment. However, Macedonia is decent rival to Albania. The lower taxes and perfect free zone functioning puts Macedonia in better

position regarding this investment, con-siders the Agency.

According to them, Albania is losing the competitiveness in the region because

of the increased taxes. That is the reason why other companies avoided Albania and invested in Macedonia or Serbia.

mACEdONIA ANd ALBANIA RIVALS FOR “NISSAN”However, Macedonia is decent rival to Albania. The lower taxes and perfect free zone functioning puts Macedonia in better position regarding this investment

GRuEVSKI: THIS YEAR 25 NEW INVESTORS TO CREATE OVER 15,000 NEW JOBSInvestors that have already started carrying out their investment plans in Macedonia are Marquardt, which will create 600 new jobs in Veles, Kostal expected to create a thousand jobs, Amphenol 2,000 jobs, and Antura, a company manufacturing flour seeds expected to invest in Kocani

Source:

Automotive Cluster of Macedonia, Invest Macedonia

Value-added€45.5m

Employment Aprox. 2500

Number of firms

Aprox. 50

Exports€195m

(2010)

Cumulative FDI inflows

€52m (2010)

FDI inward stocks

€126.8m(2005-2010)

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Foreign investors operating in Mace-donia’s free economic zones, where

over 11,000 jobs have so far been created, are said to be the main reason for the steady industrial production increase.

The latest official statistics about indus-trial production, which grew 4.8 percent last year in relation to 2013, reveal that capital goods registered the most pro-nounced increase. In December last year they noted an increase of 47.1 percent relative to the same month of a year be-fore, and a yearly increase of 48.5 percent in 2014 from 2013.

The State Statistical Office explains that massive production growth has been registered in the main industrial sectors, primarily as a result of the increased pro-duction of the foreign companies located in Macedonia’s industrial zones: Johnson Matthey, Johnson Controls, Van Hool, Prodis, Kemet Electronics, Teknohose, etc.

By the end of last year, according to the statistics of the Directorate for Tech-nological and Industrial Development Zones, all zones exported goods of more than a billion euros, which is the best result ever, and projections for 2015 are that exports will further grow by 10-15 percent.

In 2014, the company that invested and exported most was Johnson Matthey, while the company that created most jobs was Johnson Controls.

Our goal is to create international financial zone in Skopje in terms of

offices and to attract international finan-cial institutions, banks, insurance com-panies, explained Prime Minister Nikola Gruevski.

According to him, the following two things would attract international com-panies.

– One is the adoption of laws applied in the most credible countries such as

England, Luxemburg etc. The second is to reduce taxes. In layman terms – Eng-lish laws with reduced taxes. We expect it would attract some international fi-nancial institutions to open their main seats in Macedonia and to perform their operations from here, stressed Gruevski.

Macedonia won’t have direct profit from these institutions regarding taxes, because they will be very low.

– Those companies would employ people and train the employees to up-grade to international standards. Those companies would engage lawyers, accountants, etc. from Macedonia… those companies would invest in prop-erty here. Those are wealthy people whose spending would benefit our economy, highlighted Gruevski.

FOREIGN INVESTORS pROpEL INDUSTRY FORWARDThe State Statistical Office explains that massive production growth has been registered in the main industrial sectors, primarily as a result of the increased production of the foreign companies located in Macedonia’s industrial zones: Johnson Matthey, Johnson Controls, Van Hool, Prodis, Kemet Electronics, Teknohose, etc

FINANCIAL ZONES TO ATTRACT BIG INTERNATIONAL COmpANIES

Countries with the highest volume of commodity exchange with the Republic of macedonia, January – december 2014

daily exchange rate

Volume in 000 US $ Structure

Export in 000 US $ Structure

Import in 000 US $ Structure

Import coverage by

export

Country

12 210 574 100.0 4 933 845 100.0 7 276 729 100.0 67.8TOTAL

2 850 675 23.3 2 043 933 41.4 806 742 11.1 253.4Germany

961 266 7.9 68 058 1.4 893 209 12.3 7.6Great Britain

893 980 7.3 226 688 4.6 667 292 9.2 34.0Greece

856 325 7.0 258 286 5.2 598 039 8.2 43.2Serbia

756 507 6.2 302 337 6.1 454 170 6.2 66.6Italy

709 336 5.8 326 602 6.6 382 734 5.3 85.3Bulgaria

524 649 4.3 92 632 1.9 432 018 5.9 21.4China

441 583 3.6 67 510 1.4 374 073 5.1 18.0Turkey

302 267 2.5 93 338 1.9 208 929 2.9 44.7Romania

266 877 2.2 230 824 4.7 36 052 0.5 640.2Kosovo

222 884 1.8 151 555 3.1 71 329 1.0 212.5Belgium

214 775 1.8 56 692 1.1 158 083 2.2 35.9Slovenia

205 543 1.7 93 831 1.9 111 713 1.5 84.0Croatia

195 862 1.6 53 057 1.1 142 806 2.0 37.2United States of America

194 290 1.6 50 704 1.0 143 586 2.0 35.3Austria

182 093 1.5 42 068 0.9 140 025 1.9 30.0Russia

163 978 1.3 68 150 1.4 95 828 1.3 71.1Netherlands

156 938 1.3 93 020 1.9 63 919 0.9 145.5Bosnia and Herzegovina

155 093 1.3 69 696 1.4 85 397 1.2 81.6Spain

143 539 1.2 38 338 0.8 105 201 1.4 36.4France

Source: State Statistical Office

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et6 Macedonian Business MontHly

In the third quarter of 2014 there were 6.973 vacancies in Macedonia, most of

which, 2.533, were in the sector of man-ufacturing industry followed by wholesale and retail trade, repair of motor vehicles and motorcycles with 1.135 and trans-port and storage with 885 vacancies, informed State Statistical Office.

The lowest vacancies, only five in the third quarter of 2014 were in electricity, gas, steam and air conditioning.

Most of the vacancies, 2.278, are at businesses subjects with 10 to 49 employ-ees, followed by 2.060 vacancies at busi-nesses subjects with 50 to 249 employees, while 1.347 vacancies at companies with 3 to 9 employees, and 1.289 vacancies in those with over 250 employees.

Most of the vacancies or 2.879 are in Skopje region, followed by the 956 in Pelagonia region and 710 vacancies in Vardar region.

According to the SSO data, most workers, 1.871, were required in services

and sales, and the least required, 35, as experts in agriculture, forestry, fishing, and hunting.

The unemployment rate in Macedonia decreased to 27.90 percent in the third quarter of 2014 from 28.22 percent in the second quarter of 2014. The rate of

unemployment in Macedonia averaged 31.87 percent in the period between 1993 and 2014, reaching the highest level of 37.30 percent in the fourth quar-ter of 2005 and the lowest level of 27.70 percent in the fourth quarter of 1993.

mACEdONIA WITH 6.973 VACANCIES IN ThE ThIRD qUARTERAccording to SSO data, most of the workers, 1.871, are required in services and sales, and the least required, 35, as experts in agriculture, forestry, fishing, and hunting. The unemployment rate in Macedonia decreased to 27.90 percent in the third quarter of 2014 from 28.22 percent in the second quarter of 2014`

Foreign investments, self-employ-ment measures introduced by

the Government, trainings, post-qualifications, tax relief to employers who employ young staff – all of this caused unemployment rate to drop. Currently it holds the lowest level in history and in 2015 it is expected to drop even lower.

“Currently engineers are most need-ed, given the large number of compa-nies in the automobile sector, but also salespersons, administrative workers, call center operators and construction workers”, announced Darko Velkov from “vrabotuvanje.com”.

The employment fairs provided direct meeting between employers and employees, the unemployed were trained how to present themselves on the labor market in 60 seconds, ex-

perts said. The most stable and most paid sectors are banks and insurance companies, and lately IT technicians are among the most wanted ones, Vel-kov stressed.

GOOd GOVERNmENT pOLICY LED UNEMPLOYMENT TO DROP

Job Vacancy Rate in the last four quarters

0

0.2

0.4

0.6

0.8

1

1.2

1.4

1.6

1.8

IV.'13 I.'14 II I I I

%


Labour force and activity rates

Labour forceTotal working age population Activity rate

Employment rate

Unemployment rateTotal Employed Unemployed

2013 1 672 460 956 057 678 838 277 219 57.2 40.6 29.0

2013/III 1 672 275 957 417 682 448 274 969 57.3 40.8 28.7

2013/IV 1 676 182 960 704 685 479 275 225 57.3 40.9 28.6

2014/I 1 672 998 958 392 686 277 272 115 57.3 41.0 28.4

2014/II 1 671 725 957 790 687 465 270 325 57.3 41.1 28.2

2014/III 1 673 056 958 393 690 965 267 428 57.3 41.3 27.9

1) Because of calculations of the sample and rounding up calculated results to one number, sometimes deviations are possible in the total of the results that are obtained by summing up individual items.


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The greater access of state institutions to bank accounts of beneficiaries of

welfare payments is a measure intended to put a stop to the misuse of state fund-ing. It was with these arguments that the legislators of the governing majority defended the modifications to the bank-ing law that passed the first parliamentary filter. Under the proposed modifications, the Ministry of Labor and Social Policy, the Health Insurance Fund and the Em-ployment Agency will also be granted

access to the bank accounts of certain citizens.

The legal modifications have prompted a storm of public reactions, while some banks complained they have not been consulted and informed.

In order to get information from banks, state institutions will have to conclude memorandums with them. The Ministry of Labor informed that bank ac-counts will be accessed on receiving prior consent from account holders although

this has not been closely defined with the law.

Finance Minister Zoran Stavreski has recently said that the modifications are made in the citizens’ best interest. Some economists have seen in this undertaking an attempt for artificial reduction of the number of the unemployed and also of the various kinds of beneficiaries of wel-fare payments.

Macedonian municipalities Gostivar, Lipkovo and Chair and Kosovo

municipalities Dragash, Vitina and Gn-jilane will implement projects through the IPA program of the European Union for cross-border collaboration. The Euro-pean non-refundable grant amounts 2.16 million euros, and Chair municipality in collaboration with Gnjilane munici-pality in Kosovo will implement several projects.

Otherwise, the border crossing will be opened after the two Ministries for Local Self-Government determine the details.

“Since we applied together, the focus of Chair municipality is the Old Bazar. That will improve the image and tourism conditions. The local community, that so far helped NGOs, with be fully recon-structed in compliance with the law on bazar protection, it anticipates creation of design school of the well-known de-signer Izet Curi from Skopje who lived and worked in Paris. Also installation of electronic information boards which will inform tourists about the Bazar, and a pilot project for façade unification of all shops in the Old Bazar, so that

Chair municipality receives authentic look and attract tourists. The procedure has already started and the grant of 550 thousand euros is equally divided to both municipalities”, announced Izet Mexhiti – Mayor of Gazi Baba.

“The cross-border collaboration rep-resents opportunity for the people from both sides of the border to collaborate and improve the economic, social and environment conditions. This program supports the sustainable growth and helps reduce the gap in the living stan-dards”, stressed Aivo Orav – EU Ambas-sador.

The Ministries for Local Self-Govern-ment consider that these programs will help exploit region’s heritage and will enable regional development and border crossings revival, also the population will have increased job opportunities. Mace-donia implements cross-border collabo-ration projects with Kosovo, Albania, Greece and Bulgaria.

EuROpEAN GRANTS FOR ImpROVEd COLLABORATION BETWEEN MACEDONIA AND KOSOVOThe European non-refundable grant amounts 2.16 million euros, and Chair municipality in collaboration with Gnjilane municipality in Kosovo will implement several projects. Otherwise, the border crossing will be opened after the two Ministries for Local Self-Government determine the details

BANKING LAW mOdIFICATIONS IN PARLIAMENTARY PROCEDURE

IpA II Allocations (2014-2020) in millions in current prices

Country 2014 2015 2016 2017 2018-2020 Total

Albania 83.7 86.9 89.7 92.9 296.3 649.5

Macedonia 85.7 88.9 91.6 94.9 303.1 664.2

Kosovo 83.8 85.9 88.7 91.9 295.2 645.5

Montenegro 39.6 35.6 37.4 39.5 118.4 270.5

Serbia 195.1 201.4 207.9 215.4 588.2 1,508.0

Turkey 620.4 626.4 630.7 636.4 1,940.0 4,453.9

Multi-country 348.0 365.0 390.0 410.4 1,445.3 2,958.7

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G8 Macedonian Business MontHly

Reduced interest rates, credit growth and merging of two banks – this is

the shortest resume of the developments in the bank sector in the past year. Still, 2014 started prudently, the National Bank projected 6 percent credit growth and bankers announced drop in interest rates but not too steep. First, there was significant drop in consumption loans and credit cards.

Last year in January, Eurostandard Bank, which possessed two-thirds of Poshtenska Bank, purchased the remain-ing part and became owner of the Bank.

The positive economic results in the first quarter of 2014 encouraged the banks to further stimulate the economy. Still, the credit growth was low until November. Since Macedonia issued the Eurobond and reduced the domestic market indebtedness, the interest rates on state transcripts and bonds significantly dropped.

This, together with the project “Buy a House, Buy an Apartment” resulted in reduced interest rates on housing and consumption loans. A house or an apart-ment can now be purchased with housing

loans and with 3 percent interest rates in the first several years. The structure of company indebtedness is changing. In the past years, companies took loans to preserve the weak liquidity, but now good projects for investments in new equip-ment and devices, new business facilities and plants are in surge.

What is most concerning is the in-creased level of dysfunctional loans which

are over 12 percent of the total credit portfolio of the banks, fortunately it cur-rently stagnates, and half of the loans are 100 percent reserved. Bankers are opti-mists that 2015 will mark low interest rates and high credit growth, given the positive Eurozone signals, as well as the stability of the largest banks, their capi-talization, and the recent long-term bond investment.

Macedonian Government takes care of domestic and foreign compa-

nies. We provided cheap loans for domes-tic companies in times of high interest rates and we provided withdrawal of credit lines from EBRD, said Prime Min-ister Nikola Gruevski.

Gruevski stressed that the same condi-

tions apply to all companies, and added that domestic companies can also invest in the industrial zones if they meet the criteria, which demands high technology manufacturing.

-Loans are granted to companies and paid back in due time and the country grants it again. Those loans had 5.5 per-

cent interest rate in times when the inter-est rates in Macedonia reached 9 percent or even 13 percent for some companies. This credit line is the most used one in Macedonia, Gruevski said.

Because of that, these loans have been used by numerous domestic companies.

RECORd-BREAKING LOW INTEREST RATES MARKED 2014The positive economic results in the first quarter of 2014 encouraged the banks to further stimulate the economy. Still, the credit growth was low until November. Since Macedonia issued the Eurobond and reduced the domestic market indebtedness, the interest rates on state transcripts and bonds significantly dropped

GRuEVSKI: WE pROVIdEd CHEAp LOANSFOR MACEDONIAN COMPANIESPrime Minister Nikola Gruevski stressed that the same conditions apply to all companies, and added that domestic companies can also invest in the industrial zones if they meet the criteria, which demands high technology manufacturing

Growth rates of total credit exposure

(%)

1.9

1.1

3.0

8.2 7.1

8.4

0

1

2

3

4

5

6

7

8

9

9.2012 12.2012 3.2013 6.2013 9.2013 12.2013 3.2014 6.2014 9.2014

Quarterly growth rate of total credit exposureAnnual growth rate of total credit exposure

Source: Credit Registry of the National Bank, based on data submitted by banks

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The world’s two most renowned finan-cial institutions ranked Macedonia

first in the region of Southeast Europe by the height of its economic growth rate. The 3.5 percent growth rate projection for the Macedonian economy in 2015 of the World Bank and the EBRD is confirmation to Finance Minister Zoran Stavreski that the government measures for attracting foreign investors and carry-ing out capital investments have proved a success.

Stavreski expects the Macedonian economy to achieve even higher growth rate as of next year when several more foreign investors are set to begin opera-tions in Macedonia.

In regard to the World Bank’s warning that although Macedonia’s public debt is under the Southeast European average, the authorities should still be watchful, Stavreski reassures that the country will remain in the group of moderately in-debted countries.

In end November 2014, Macedonia’s public debt was 45.5 percent and its state debt was 38 percent of GDP.

The steady growth rate increase is ex-pected to result in a pronounced poverty decrease. Raising salaries and pensions

is expected to help in this regard, while the measures for creating more jobs are expected to cause the unemployment rate to climb down to 25 percent by the end of this government’s term.

Industry % of Gdp

29

28

27

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Mac

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Data Source: CIA - The World Factbook

Deputy Prime Minister of Kosovo and Minister of Foreign

Affairs Hashim Thaçi and Zoran Stavreski, Deputy Prime Minister and Minister of Finance signed the Agreement on Reciprocal Promotion and Protection of Investments.

The signing of this Agreement provides for establishing legal framework guarantying the ownership and the related rights to investors. Existence of such Agreement is one of the most important preconditions for stimulation of the business initiatives and mutual

investment attraction, which would contribute to increasing the number of business relations and investments among the entities from both countries in the coming period.

STAVRESKI: mACEdONIA HAS HIGHEST ECONOMIC GROWTh RATE IN REGIONIn regard to the World Bank’s warning that although Macedonia’s public debt is under the Southeast European average, the authorities should still be watchful, Stavreski reassures that the country will remain in the group of moderately indebted countries. In end November 2014, Macedonia’s public debt was 45.5 percent and its state debt was 38 percent of GDP

mACEdONIA ANd KOSOVO SIGNEd AGREEmENT ON RECIPROCAL PROMOTION AND PROTECTION OF INVESTMENTS

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Prime Minister Nikola Gruevski announced that the con-struction of gas pipeline network for households will begin

by the end of this year. – The construction of gas pipeline network for households

will begin by the end of this year, two firms from Turkey and Italy have shown interest in constructing the gas network, said Gruevski.

As explained, it is the so-called secondary gasification which will bring gas to all households.

– Efforts are made to construct gasification all over Macedo-nia. We work to connect the pipeline in Greece for the primary network or to connect with Bulgaria to an intercontinental gas pipeline and the third alternative is Gazprom with which we could be connected in the vicinity of Kriva Palanka, Gruevski stressed.

He added that we currently have gas to cover the whole terri-tory of Macedonia.

– The pipe that goes into Macedonia has a capacity of about 800 million cubic meters, and we haven’t used a half of this. Currently the Government works on Skopje’s secondary gas-ification and later on the gasification of households in Eastern and Western Macedonia which will increase the used capacity, Gruevski said.

He revealed the anticipated investment plan for construc-tion of gas plants for generating electric energy and heat energy

which will require new gas capacities. After the cancellation of “South Stream” project, the Government reviewed other oppor-tunities to provide gas. Gruevski pointed out the three alterna-tives we have, to connect the pipeline in Greece, to connect with (intercontinental pipeline) Bulgaria or to connect to the pipeline Gazprom near Kriva Palanka.

The decline in prices of oil and oil derivatives that started several

months ago has had almost no effect on the standard of living of the citizens, who cannot feel the benefits of the fall at any other place except petrol sta-tions.

On the other hand, the waning oil price has had a positive effect on the performance of the Macedonian firms whose production and operating costs are closely related to the price of this energy resource.

Passenger transporters are said to be profiting most from the sliding oil price trend and yet they have no intention

of cutting ticket costs. A problem, they say, is the falling number of passengers who turn to driving cars because of the cheaper gasoline.

International transporters expect the falling oil price to help them improve their financial standing whereupon they would be able to invest in new vehicles.

In the bread producing industry, production costs are largely tied to elec-tricity, which constitutes 70 percent of them. There follow raw materials, while transport has only a negligible share. Economists agree that firms react accord-ing to the competition and its conduct in the market.

CONSTRuCTION OF GAS pIpELINE NETWORK FOR hOUSEhOLDS TO BEGIN BY ThE END OF ThIS YEARAfter the cancellation of “South Stream” project, the Government reviewed other opportunities to provide gas. Gruevski pointed out the three alternatives we have, to connect the pipeline in Greece, to connect with (intercontinental pipeline) Bulgaria or to connect to the pipeline Gazprom near Kriva Palanka

Final energy consumption in households by energy commodities, 2013

Solid fuels0.2% Total petroleum

products5.9%

Electricity58.1%Derived heat

6.2%

Biomass29.6%


CITIZENS FEEL NO BENEFITS FROM LOWER OIL PRICE

IN NOVEMBER, 78.2% OF ELECTRICITy USED FOR DOMESTIC MANUFACTURING

In November last year, Macedonia spent a total of 708.535 MW/h

electricity, 23.428 million normal cubic meters natural gas, 502.542 tones in coal and 79.437 tones in oil products.

According to the data of the State Statistical Office, 78.2 percent of the total electricity consumption was used for domestic manufacturing, and 96 percent of the coal was used for electricity generation.

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In the next twenty years, Macedonia will have to turn more to production

of electricity from renewable sources and reduce power production from coal. More consideration will have to be given to rais-ing energy efficiency. The greater regional involvement in various energy systems will also be beneficial since there will be multiple suppliers. This has been foreseen in the working draft of the strategy for energy sector development in Macedonia until 2035 prepared by the Macedonian Academy of Sciences and Arts.

The strategy, which was presented by academician Gligor Kanevce at the Economic Chamber of Macedonia, does not envisage construction of a nuclear power plant as was the case with the pre-vious strategy. It focuses instead on the construction of the long-awaited Boskov Most, Cebren and Galiste.

A novelty is the recommendation to upgrade the Spilje and Globocica hydro-electric power stations and to build a new thermoelectric power stations operating on coal with capacity of 300 MWh of

electricity. This plant is meant to super-sede the Bitola thermoelectric power station whose life is expected to end in several years.

The Academy expects the use of energy resources to expand by 2.3 percent an-nually and the use of power to increase by 1.1 percent annually over the next 20 years. The implementation of the work-ing draft of the energy strategy is roughly estimated to cost 2–3 billion euros.

Reduced prices of energy products and increased economic growth.

Macedonia will benefit if the minimal oil prices are preserved on the global stock market. This is the result of the Oxford Economics Research according to which import-countries will mark 1 percent increase in GRD growth, while export-countries will mark 3.5 percent decline.

These numbers overlap with the fore-cast of the World Bank according to which the falling prices of energy prod-ucts will continue which will increase growth, and will reduce inflationary, external and fiscal pressure on energy importers.

“The falling prices give opportunities to oil-importing developing countries. Policy creators should take advantage of this, and implement structural reforms and finance social programs”, said Ajhan Koce Chief of Development Department in the World Bank.

Macedonian National Bank projected downturn expectations on energy prod-uct prices.

“Still, we should take into consider-ation the future fluctuations of global

prices and the possibility of rapid changes in this field”, read the conclusions of the National Bank of the Republic of Mace-donia.

Macedonian businessmen consider that the cheap oil will increase their competi-tiveness, but only if low prices are long-term. Only transport expenses will have short-term influence.

“This drop will especially impact the industry capacity and the import-export oriented companies. Large part of the companies switched to electric power supply and gas, and we hope they will notice the benefit of the low oil prices, however it all takes time”, announced Daniela Arsovska, SSK President.

Companies claim that the usage of other energy products and the reduced usage of fuels in the final product price, as well as the long-term investment plans are the reason there is no drop in article prices, but if the global oil stock markets stagnate, Macedonian businessmen will have to make corrections.

uSE OF ENERGY RESOuRCES TO GROW2.3% ANNUALLY OVER NEXT 20 YEARS

Oil price development in 2014

120

100

80 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov

83.6

110.9

Oil price (brent)in US dollars

Source: finanzen.net

THE FALLING pRICES OF ENERGY PRODUCTS WILL CONTINUEMacedonian businessmen consider that the cheap oil will increase their competitiveness, but only if low prices are long-term. Only transport expenses will have short-term influence

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Construction of new highways, railways, organization of beaches, procurement of new passenger coaches and freight

cars, and after 30 years the railway station in Skopje was mod-ernized. Besides infrastructure, gasification in Macedonia is also blooming, and a shipping lane to Albania was introduced for the first time. These are some of the big infrastructure projects which marked 2014.

-2014 was devoted to big projects in the road and rail infra-structure, stressed Transport Minister Mile Janakieski.

Cheap airline tickets have been subsidized in order to enable low budget travel to citizens. Introduction of national airlines is soon anticipated.

In November, an agreement was signed with the Turkish company Aselsan which will establish a new electronic pay toll system. Pay tolls will be established along Corridor 10.

Citizens mostly complain about work irregularities of market and labor inspectors, inform the Inspection Council. Citi-

zens can submit petitions to this institution if they consider that some inspector failed to comply with the laws or breached some right. Still, there are lots of lodged complaints against construc-tion inspectors in municipalities beyond the competence of the Inspection Council.

“They submit false price reductions, they register goods which are not genuine, and put false company names so con-sumers often get confused. There are also complaints regarding

labor rights, working relations and work protection, as well as complaints about the local self-government in construction”, stressed Vancho Kargov Inspection Council President.

In six months, over 115 complaints were submitted to the Inspection Council. So far, three discipline procedures have been filed against two market inspectors and one agricultural inspector.

2014 mARKEd WITh BIG INFRASTRUCTURE PROJECTS

CIVIL CHARGES AGAINST hUNDRED-SOME INSPECTORSStill, there are lots of lodged complaints against construction inspectors in municipalities beyond the competence of the Inspection Council

According to the data from the State Statistical Office, a total of 305 building permits were issued in December 2014,

which was 27.6 percent more than the same month of the previ-ous year.

According to the issued building permits, the expected total value of the constructions was 3,472,932 thousand denars, which was 36.3 percent more than the same month of the previ-ous year.

Of the total number of issued building permits, 207 (67.9 percent) are for buildings, 30 (9.8 percent) are for civil engineer-ing structures, and 68 (22.3 percent) are for reconstructions.

Of the total of 305 structures, for 213 (69.8 percent) the in-vestors are private persons, and for 92 (30.2 percent) structures the investors are business entities. In the reference period, 795 dwellings are planned for construction, with total useful floor area of 64,441 m2.

ISSuEd BuILdING pERmITS, DECEMBER 2014Of the total number of issued building permits, 207 (67.9 percent) are for buildings, 30 (9.8 percent) are for civil engineering structures, and 68 (22.3 percent) are for reconstructions

Number of issued building permits, 2014

Total Buildings Civil engineeringTotal 2 628 1 830 323 475

I 140 113 17 10II 212 147 33 32III 253 196 30 27IV 205 130 37 38V 194 139 27 28VI 169 126 18 25VII 209 146 24 39VIII 155 100 11 44IX 264 176 29 59X 241 169 26 46XI 281 181 41 59XII 305 207 30 68

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Many more services for the Macedo-nian citizens via the electronic one

stop shop system, changes in the cable and telecommunications sector, as well as drafting of a strategy for the creation of a digital sustainable economy have all been announced by the Minister of Informa-tion Society, Ivo Ivanovski.

He informed that 2014 was particu-larly successful as far as the Internet use and the spread of the Internet across the country were concerned and that 2015 was expected to see cable sector consoli-dation.

“Smaller cable operators will most probably be taken over by larger ones,

which is another good sign for the in-formation society development. At the same time, the mobile operators VIP and ONE signed a merger contract, and the Commission for the Protection of Com-petition is expected to endorse it soon,” Minister Ivanovski said.

Viber Company is interested in con-necting Macedonia to their partners,

and management representatives visited Macedonia in mid-January and met with Prime Minister Gruevski. Founder and CEO of Viber Company Talmon Marco and Director of Technology Develop-ment of Viber Yigal Magaznik met with Gruevski. Prime Minister also met with Hirato Shintaro from Rakuten, Japanese online trade company.

From Prime Minister’s Cabinet informed that on the meetings they discussed about computer science tech-nologies, and Gruevski stressed in the

period from 2006 until now, the internet penetration in Macedonia has increased from 9 to 70 percent.

This is due to the numerous imple-mented projects in the IT sector – like the project “computer for every child”, free trainings, and continuous investment in computer science Faculties.

Viber and Rakuten managers assume that these measures give solid base for de-velopment and they are open to collabo-ration. Viber stresses that they closely fol-low Macedonia’s development in the field of computer science technologies and they are interested in reviewing various

opportunities for concrete collaboration, and they offered support for connecting Macedonia to other global companies which are their partners, and are also interested in expanding their capacities to new markets.

Viber started working in 2010, as rival to Skype enabling free SMS messages and calls. It currently has over 360 million users in 193 countries all over the world. Rakuten is a giant online trade company, the biggest company of this kind in Ja-pan, and one year ago they bought Viber for 900 million dollars.

mINISTER IVANOVSKI HERALdS CABLE OPERATORS MERGERS

GRuEVSKI mET WITH VIBER AND RAKUTEN MANAGEMENTViber started working in 2010, as rival to Skype enabling free SMS messages and calls. It currently has over 360 million users in 193 countries all over the world. Rakuten is a giant online trade company, the biggest company of this kind in Japan, and one year ago they bought Viber for 900 million dollars

using the Internet for interacting with public authorities in the last 12 months(% of the internet users in the last 12 months)

16.9

10.5

36.0

39.4

0 5 10 15 20 25 30 35 40 45 50

Sending filled in forms to publicauthorities' websites, electronically

Downloading official forms from public authorities’ websites

Obtaining information from public authorities’ websites

Have used Internet for interaction with public authorities


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y14 Macedonian Business MontHly

The biggest problems consumers faced last year were low-quality

white goods, warrantee and servicing. According to the data of Consumers’ Organization of Macedonia this field is surged with consumers’ complaints mostly regarding mobile phones, bought with flaws, very fragile and easily break down soon after they are purchased, and

their warrantee is cancelled for no rea-son. There were fewer complaints about laptop computers, kindles and desktop computers. Other complaints encom-pass white goods such as refrigerators, electric stoves, cooks, kitchen appliances and other technical devices – TV sets, cameras, lawn mowers, air conditioners, heaters.

There were little number of complaints about the quality of certain automobile parts, often complaints regarded low-quality car batteries.

Regarding personal care products, con-sumers complained about shoes and low-quality clothes. In the field of services, consumers mostly complained about travel offers during the summer period.

Citizens don’t have where to dispose of the electrical and electronic waste

even if they are legally obliged to do so. If they misplace it near the garbage con-tainer or in the field or in the river they will pay a fine of 60 euros. Municipali-ties which should determine and equip proper landfill for waste disposal haven’t managed to do so, and only 500 import-companies, and electrical and electronic product manufacturers joined the waste management system.

According to a survey, 19 percent of the citizens in Macedonia have at least one old television set, 20 percent have an old mobile phone, 22 percent have an old refrigerator, 17 percent have an old electric stove, 33 percent have an old computer or printer. The condition becomes more alarming having in mind the data those 33.000 tones in technical goods and 5.000 tones in hardware and optical equipment are annually imported to Macedonia.

Deputy Minister for Environment Stevo Temelkovski agrees that munici-palities have poor collection systems and

electronic and electrical waste recycling systems.

-Only Skopje has this kind of landfill, and the procedure has been initiated in Ohrid and Kocani. Other municipali-ties are not determined yet. We need to start propaganda to inform the citizens and municipalities for their legal obliga-tions which regulate this issue – stressed Deputy Minister for Environment.

According to the information, only “Zero waste” Association has this kind of waste disposal system and so far only 500

import-companies, and electronic and electrical product manufacturers have joined the “Zero waste” system, which last year collected 5.5 tones in batteries and exported 100 tones electronic waste.

“Go Green” NGO stressed that the condition can be improved if citizens are raised to dispose of this kind of waste. According to the plan of the Ministry of Environment, up to 2020, 4 kilograms in electrical and electronic waste per capita should be collected annually.

CITIZENS dON’T HAVE WHERE TO dISpOSE OF ThE ELECTRONIC WASTEAccording to a survey, 19 percent of the citizens in Macedonia have at least one old television set, 20 percent have an old mobile phone, 22 percent have an old refrigerator, 17 percent have an old electric stove, 33 percent have an old computer or printer. The condition becomes more alarming having in mind the data that 33.000 tones in technical goods and 5.000 tones in hardware and optical equipment are annually imported to Macedonia

CONSumERS mOST COmpLAIN ABOuT LOW-qUALITY WhITE GOODSThere were fewer complaints about laptop computers, kindles and desktop computers. Other complaints encompass white goods such as refrigerators, electric stoves, cooks, kitchen appliances and other technical devices – TV sets, cameras, lawn mowers, air conditioners, heaters

Generated municipal waste in the Republic of macedonia and annual amount of municipal waste per person1, 2013

Reference period Generated municipal waste (in tonnes)

Annual amount of municipal waste per person (in kg)

2008 713 564 349

2009 725 976 354

2010 721 507 351

2011 735 250 357

2012 786 909 382

2013 792 785 384

1) Estimated dataSource: State Statistical Office

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Slovenian experts will instruct Macedonian institutions how to

better use the assets granted by the EU IPARD program allocated for rural development. In six years, only 15 mil-lion euros have been used from this program.

The twinning project will establish new measures for better use of IPARD assets allocated for rural area develop-ment, amounting 250.000 euros.

-The main goal of the measure is to establish favorable environment for

rural economy development by improv-ing the quality of life in rural areas, constructing rural roads and streets, implementing drinking water manage-ment systems and wastewater manage-ment systems, energy procurement and other activities in rural areas – stressed Agriculture Minister Mihail Cvetkov.

Potential consumers of IPARD assets are rural municipalities and public en-terprises for forest and pasture manage-ment, which will provide rural develop-ment infrastructure and will contribute

for living standard improvement and environment protection.

Aivo Orav, Chief of EU Delegation in Macedonia, stressed that the twinning project has strategic goal and supports the paying agencies in accreditation of the measure on rural structure.

-This measure on rural infrastructure, when accredited, will enable rural infra-structure financing which is especially important, and the second goal is to sup-port the EU agriculture funds in Mace-donia- stressed Orav.

According to the calendar on excise duty increase, starting from the

middle of this year cigarette prices will increase for three denars per box. The new cigarette prices will enter into force starting from July 1st if the manufacturers don’t decide to modify the price.

The three denars increase in prices will apply from July next year. Seven years starting from 2017, the increased excise duty will increase cigarette prices for four deners per box.

Part of the money collected from the excise duty on cigarettes would be used

to improve the health protection of citi-zens. It will raise smokers’ expenditure. Calculations show that, today a box of cigarettes costs 120 denars and in eight years, the increased excise duty will make it cost 154 denars.

EXCISE duTY ON CIGARETTES INCREASED FOR ThREE DENARS

SLOVENIANS WILL TEACH US HOW TO USE MONEY FROM THE IPARD PROGRAMPotential consumers of IPARD assets are rural municipalities and public enterprises for forest and pasture management, which will provide rural development infrastructure and will contribute for living standard improvement and environment protection

Areas and scope of production of industrial crops for 2013

Area in ha

Production in tons

19,178

27,859

TobaccoSun�ower Poppy

Area in ha

Production in tons

2,481

3,832

Area in ha

Production in tons

108

63

Source: MAFWE

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The measure which finances “drop-by-drop” ir-rigation systems for corn, sunflower and other

fodder crops will be extended, announced Agricul-ture Minister Mihail Cvetkov.

The extended measure is a result of the success-fully implemented pilot project from 2014 for financial support of “drop-by-drop” system instal-lations, which anticipated five million denars.

Farmers who purchased these systems and ap-plied for state subsidies, were compensated for 50 percent of the system purchase price.

In 2013 and 2014 the USAID project for small business expansion started the initiative “let’s grow more corn” for modernization of the corn produc-tion in Macedonia. 120 “drop-by-drop” systems were donated and 120 farmers were trained to use good-agriculture practices in corn production.

These farmers increased corn crops two or three times.

Macedonian wine, fruit and vegetables will be presented at renowned agricultural fairs and events around the globe

this year too. To this end, the Government has allocated some 30 million denars, or 500,000 euros. The money will be used to help the promotion of the products of domestic agricultural companies.

In the words of government spokesman Aleksandar Gjorgjiev, the Macedonian companies’ participation in these events has so far yielded excellent results. Some of the funds are for joint

participation in fairs and another part is for the promotion of Macedonian wines at targeted events. Companies will have branded booths at fairs, as well as premises, promotional mate-rial and media coverage for other events.

The government has been providing financial assistance for the promotion of Macedonian farming products for several years. Those companies that were part of this government un-dertaking in 2013 concluded deals of more than 12 million euros.

Macedonian wines recently started selling in specialized retail shops for alcoholic beverages in Sweden “Systembo-

laget” network. The wine is trademark of “Second Generation” organization founded in Sweden by musicians with Mace-donian origin from the second immigration generation, very famous in Sweden.

“Second Generation” wine is produced in “Popova Kula” winery in Demir Kapija – wines like: black horse, cabernet sauvignon and pinot noir. “The land of sun” is the importer-company. It can be purchased in several “Systembolaget” retail shops in Stockholm, Gotheburg and Kungsbacka.

Macedonian wines had their prime time in Sweden in 1990 when the wines “Povardarie” from Negotino were sold.

MEASURE ON IRRIGATION SYSTEMS TO EXTEND

MKD 30 MN FOR PARTICIPATION IN AGRICULTURAL FAIRS

MACEDONIAN WINES SOLD IN SWEDEN

puRCHASE ANd SALE OF AGRICuLTuRAL pROduCTS important products - quantities

Unit of measu-rement

2013

Cumulative of January - November

2013 2014

2013 2014 October November October November

Wheat and rye t 100 321 96 215 133 510 2 454 4 506 6 003 11 090

Barley t 6 924 6 786 11 022 195 1 451 414 181

Maize t 2 527 969 1 362 92 174 419 153

Rice t 3 388 3 172 1 048 115 640 132 178

Rice in shell t 8 157 7 983 1 767 391 2 371 353 431

Tobacco dry t 19 740 12 200 15 005 736 4 184 - -

Tomatoes t 20 008 13 330 15 051 1425 456 3 747 299

Paprika t 10 243 9 630 6 803 3 893 396 2 691 997

Apples t 2 904 2 683 934 635 616 6 741

Grapes t 67 741 63 063 65 472 17 420 9 297 21 727 3 058

Bullocks t 1 611 1 526 1 185 41 111 42 148

Pigs t 6 960 6 038 4 761 737 376 434 362

Sheep t 675 641 573 3 88 4 1

Eggs ‘000 pcs 84 164 75 044 72 258 8 586 3 538 8 644 2 633

Milk hl 1 205 113 1 119 071 1 314 952 84 107 190 605 98 575 105 001

Vine hl 364 573 340 870 230 242 11 333 11 241 65 682 33 173

Brandy hl 18 430 17 785 5 791 8 519 614 726 -

Fish kg 167 268 129 597 175 068 7 928 22 389 13 337 22 420

Honey kg 14 880 14 880 26 381 - - - -

Mushroom kg 416 419 335 874 643 012 50 846 25 750 222 230 56 082


monthly macedonian business - mfa.gov.mk · (germany), coficab (tunis), mensan otomotiv (turkey),...

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