Standard&Poor’s Credit Rating Agency upgraded the outlook on the ratings to stable from negative for the future credit borrowings of the Republic of Macedonia. The Government has been informed that its sovereign credit rating improved to BB stable from BB negative.


Macedonia is among the three top reformers that have contributed to improving their position of the main doing business indicator. According to this indicator, Macedonia is ranked 32nd, advancing 37 places compared to the 69th place last year in the World Bank Doing Business Report.


From today, Macedonian citizens can purchase courtyard land in their houses and residential buildings at the price of EUR 1 or Denar 61 per square meter, Prime Minister Nikola Gruevski said.


VAT on sale of flats will be reduced from 18% to 5%. The decision on reduction of this tax rate was adopted by the Government today, and the Parliament is expected to adopt it next week.


New 2009 Supplementary Budget includes cuts of both the revenues and the expenditures by 3.2%.


Poor families with children in secondary education, who are beneficiaries of social assistance, will receive Denar 12,000 annually for the education of their children.


Expenditure cuts between Denar 4 billion to Denar 4.5 billion and projections on growth of gross domestic product in 2009 of – 0.6% are envisaged in the draft Supplementary Budget, to be discussed at Government session on 1st September.


Collection of budget revenues in July showed positive signals of recovery and budget balance realized surplus for the first time in the last couple of months. Revenues were lower by only 4 percent in relation to the projections in the 2009 Supplementary Budget. The Government expects for such developments to continue in August as well.


One and a half billion denar worth treasury bills with foreign exchange clause were offered on today's T-bills auction. The whole amount was sold with an interest of 5,5 percent and maturity of 182 days.


One and a half billion denars worth treasury bills with foreign exchange clause were offered on the government securities auction today, with an interest of 5.5 percent and maturity period of 182 days, whereby the whole offered amount was realized.