Government is monitoring the situation and, if necessary, will act to protect the economy and the standard of living of the citizens, says Besimi

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We are ready to adopt measures and policies in the interest of the citizens, primarily for the protection of the most vulnerable categories of citizens, as well as for the support of the economy, wrote Minister of Finance Fatmir Besimi in his analysis of the Russian-Ukrainian crisis.

In the analysis of Macedonia’s exposure to the Russian and Ukrainian economies, the Minister says that the direct exposure is relatively small. Imports and exports to each of these two countries gravitate around 1%. Also, their representation in foreign direct investments in the country, as well as in the inflow of remittances is below 1%.

However, the column states that the challenges for our economy will come through the European economy. Developments in Ukraine can have a negative effect on the European and global economy, through additional disruptions in supply chains, i.e. a negative effect on foreign demand.

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