Post by Komita on Oct 24, 2004 21:59:49 GMT -5
VMRO-DPMNE Leader: Macedonia Has the Highest Unemployment Rate in Europe
The economic condition of Macedonia will continue getting worse. The industrial production has been rapidly reduced in the last seven months. For the first four months of the year the Gross Domestic Product has fallen by 3.6% while the Government promised a growth of 3.2%, said Nikola Gruevski, leader of the largest oppositional party in Macedonia VMRO-DPMNE (Internal Macedonian Revolutionary Organization- Democratic Party for Macedonian National Unity).
The deficit of the balance of payment will be historical this year – 10%, which is due to the fact that the country’s trade deficiency this year will be about USD 1,2 billion. Because of this, the IMF experts advised the Government to change the regime of the exchange rate - from fixed to floating - if the current falling tendency of the competition power of the Macedonian companies continues, said Gruevski.
According to him, the unemployment rate in Macedonia is almost 400, 000 people or 37% of the labor force. Thus, Macedonia has the highest unemployment rate in Europe. Besides, Macedonia is the first in Europe considering its shadow economy and the last considering the level of foreign investments.
The economic condition of Macedonia will continue getting worse. The industrial production has been rapidly reduced in the last seven months. For the first four months of the year the Gross Domestic Product has fallen by 3.6% while the Government promised a growth of 3.2%, said Nikola Gruevski, leader of the largest oppositional party in Macedonia VMRO-DPMNE (Internal Macedonian Revolutionary Organization- Democratic Party for Macedonian National Unity).
The deficit of the balance of payment will be historical this year – 10%, which is due to the fact that the country’s trade deficiency this year will be about USD 1,2 billion. Because of this, the IMF experts advised the Government to change the regime of the exchange rate - from fixed to floating - if the current falling tendency of the competition power of the Macedonian companies continues, said Gruevski.
According to him, the unemployment rate in Macedonia is almost 400, 000 people or 37% of the labor force. Thus, Macedonia has the highest unemployment rate in Europe. Besides, Macedonia is the first in Europe considering its shadow economy and the last considering the level of foreign investments.