The President of the Macedonian Chambers of Commerce (SSK), Danela Arsovska, conducted regular consultations with the International Monetary Fund (IMF) mission, led by Jessmin Rahman, head of the IMF Mission for Macedonia, of our country from 8 to 16 November, in order to conduct an annual review of the Macedonian economy.

The meeting discussed the challenges of the private sector and the business environment in the country. Arsovska stressed the importance of implementing structural economic reforms as a priority and strategic commitment of the country that would move the economy forward. The essence, he said, is the continuity of the reforms, as well as enabling an anticipated business environment for the private sector, so that they can certainly create more annual plans and not refrain from investments.

“As long as there is no national consensus that economic reforms should be a priority, we can not expect any progress. Structural economic reforms should be outlined as a future reliable strategy, which will be implemented without exception in the following years. Predictability at this moment is our biggest problem because the rapid changes in legislation should be practice of the past, “Arsovska stressed.

Additionally, it was discussed about the informal gray economy, which is one of the biggest challenges for all sectors of the economy, because those who participate in it unfairly and illegally put in a privileged position those who work and fulfill legal obligations. According to the latest data from international organizations, in the country each year companies lose up to 15 percent of profits because of the shadow economy in all sectors.

The meeting discussed the importance of the rule of law as a key priority for investing companies in the Republic of Macedonia.
SSK has been holding regular consultations with the IMF mission, in June this year, Arsovska met with Rahman in Skopje, among which was discussed, among other things, the minimum wage and reforms to raise the standard of living.