Overcoming the economic crisis requires stimulating consumption

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In yesterday’s show “Sleep If You Can” on Alfa TV on “Will Coronavirus Crash the Macedonian Economy”, Ex-Finance Minister Kiril Minovski, who has 17 years of experience in finance, project change management and human resources, says that in times of economic uncertainty, we need to act rationally, from every aspect, even in terms of energy saving. So austerity measures are necessary, above all what we consider to be irrational spending at certain times.

If we look into what’s proposed as a way to tackle the crisis, including from IMF chair Kristalina Georgieva, a basic recommendation is to stimulate spending. Of course, not any kind of spending, but spending that would add value and stimulate the economy, Minoski said.

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