Academician Abdylmenaf Bexheti Held His Inaugural Lecture at the in the Academy of Sciences and Arts of Macedonia

The Public Debt of Macedonia 33,3% of the Gross Domestic Product (GDP) which is not dangerous at the moment, but the tendency of its growth is worrying. Thus, asses Academician Abdylmenaf Bexheti, in his inaugural lecture presented to his colleagues at the Academy of Sciences and Arts of Macedonia. According to Academician Bexheti, of particular concern is the fact that for four years the government debt from has increased from 23% of GDP to 33% of GDP.

“Some States, as it the case of Montenegro, are increasing taxes, such as value added tax, that could possibly be an option for Macedonia, but I think there is a political advantage and I do not expect that this government will take this step, since it actually makes decisions on the basis of daily politics, and measures more than its rating than the public debt,”, said Academician Abdylmenaf Bexheti.

In his research, Academician Bexheti showed that government measures of lower taxes and subsidies of some certain branches such as agriculture did not yield the expected results. According to him, businessmen have not invested monies that have remained after the tax of 10%, as large spending and unproductive are shown subsidies in agriculture, where within a year are allocated hundreds of millions of Euros. Over the past years in this branch continually is decreasing the number of employees and food imports are increasing and less is participation in GDP, Academician Bexheti emphasized that only with annual economic growth of 4.5 %to 5.5%, the country will be able to repay the debt. If there is no such increase, then other measures must be taken.

For the scientific contributions of Academician Bexheti spoke Academician Goce Petreski, Secretary of the Department of Social Sciences.