19 minutes agoEffect on Prices in Macedonia After Turkish Free Fall
Periskopi(8 years ago)
(8 years ago)The Turkish currency crisis will not have any visible impact on Macedonia's economy, stress by the business sector in the country, though adding that if the decline of the Turkish lira continues, then on Macedonia's markets, Turkish products will be found at low prices. This, according to the business sector, will [...]
Even the People's Bank of Macedonia through a communique for the media has indicated that “is not expected negative direct effects on the country's economy from events in Turkey, with the depreciation of Turkish lira”.
Macedonia's People's Bank also stresses that “does not expect major non-involve effects either in the area of tourism”, because, reportedly in the communiques, the tourist “is at the peak and arrangements have already become”.
Northern Macedonia Economic Ode Director Drilon Iseni tells Radio Free Europe that the Turkish currency crisis could have an impact on the growth of the trade deficit between Macedonia and Turkey.
“Fat is that in the first six months of this year, trade exchange between Macedonia and Turkey has increased to 23.6 per cent, worth $156m, respectively. Growth in both import and product export is noted. In the case of import, the Turkish currency crisis will affect in order that Turkey's products, the country's companies will cost cheaper, the depreciation of the lira, Turkish goods, make it cheaper for businessmen” respectively.
“What can be identified as a direct impact by the Turkish currency crisis is the problems Turkish investors may have, which are the largest in Macedonia. At the moment, we are carefully following the situation and we are waiting for things to develop in the weeks ahead --”, says Iseni.
Meanwhile, the chairman of the Employers' Confederacy, Mile Boskov, for Radio Free Europe, says Macedonia as states will not have visible consequences from depreciation of Turkish freedom even though Macedonia and Turkey are highly linked through multiple businesses.
The “Turkish companies operating in Macedonia -- those that have invested here -- are multinational companies and capable of huge capital -- and in this context I would say they don't find it difficult to face such risks, which are the result of Turkey's foreign policy”, Boskov says.
In contrast, trade exchange between Macedonia and Turkey exceeds $400 million in one year.
