Economic crisis to spill over into 2021, warns Chambers of Commerce head


President of the Association of Chambers of Commerce of Macedonia Danela Arsovska estimates that the IMF projection for a decline of 4 percent will undergo some revision, because in Macedonia the end of the economic and health crisis is still not in sight, unlike other countries.

“The real sector has its projections, our projections from the very beginning of April were that the decline will be around 4 percent, which is in line with what the IMF projected. But what is even more important is that I believe that it will undergo some revision because at the moment in our country, unlike other countries, we see that the end of this crisis is not in sight, both in terms of health and economy,” said Arsovska.

He points out that if there were certain measures that would mean financial assistance to the economy, it would be possible to talk about returning the economy to normal, emphasizing that now we are talking about recovery in the medium term, ie as she said, the economic crisis will definitely spill over into 2021.

“Because at this point we have already entered the third quarter, by the fourth quarter I do not believe we will be able to go back. We have said that we can prevent, if there are certain measures that will provide financial assistance to the economy, the return of the economy to normal, but now we are talking more about recovery in the medium term, which means that this will definitely spill over in 2021 as well,” Arsovska said.

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