The confiscated mining concessions will cost the state billions of euros in damages, says Bytyqi

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Over 1.3 billion euros is the potential compensation that the state will pay if it loses disputes in international arbitration. The Deputy Prime Minister for Economic Affairs Fatmir Bytyqi informs that it is only about the base, without interest, which makes this amount rise above 1.5 billion euros.

Bytyqi recently briefed that eight arbitration disputes have been initiated against Macedonia since 2017, five of which are active.

Previously, the State Audit Office ordered to determine the reasons for which arbitration procedures are initiated against Macedonia and to demand responsibility.

“If the state loses the disputes, the total amount of funds that would potentially have to be paid is in the amount of 82,267,500 thousand denars (about 1.3 billion euros)”, stated the Institute in its latest report.

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