Skopje, 14 October 2021 (MIA) – It is visible that the Macedonian economy is recovering as suggested by the latest upward projections of the IMF (4%) and the World Bank (4.6%) about economic growth this year. Medium-term fiscal consolidation, supported under the fiscal sustainability and growth support plan, the tax system reform strategy and the growth financing plan, lays solid foundation for fiscal sustainability. Also, post-pandemic recovery paves the way for accelerating the transition to green and digital economy. These are some of the conclusions of the talks Finance Minister Fatmir Besimi has had with IMF Executive Director Paul Hilbers, IMF European Department Director Alfred Kammer, the Head of the IMF Office in North Macedonia, Bergljot Bjornson Barkbu, IMF Resident Representative for the Western Balkans, Stephanie Eble, National Bank Governor Antia Angelovska Bezhoska and other officials as part of the IMF/World Bank Autumn Meetings. “During the meeting, the government’s measures taken to address the pandemic aimed at accelerated recovery of the economy were discussed and welcomed,” the Finance Ministry said Thursday. Minister Besimi said that high frequency indicators have been pointing out to economic recovery. Real GDP in Q2 in 2021 recorded a growth of 13.1% at annual basis, suggesting the country has exited the recession caused by the COVID-19 pandemic. Export of goods and services rose by 45% and the unemployment rate, which is dropping, stands at 15.9%. The government and the Finance Ministry forecast that GDP will grow to 4.1%, said Minister Besimi, but positive movements in Q2 and developments and the macroeconomic policies in Q3 and Q4 could contribute to the economy registering a GDP growth higher than what has been initially projected. “Fiscal consolidation will provide uninterrupted financing of sustainable and inclusive growth, which will be realized through better management with investment projects of the public and private sector and support of the private sector,” said Besimi, adding the government will continue to set aside support to affected citizens and companies all the while monitoring medium-term fiscal consolidation. Government should adopt clear and credible midterm financial policy ensuring fiscal sustainability, IMF officials said at the Autumn Meetings. Stimulus packages for businesses should be withdrawn early and where possible, they should be targeted and time-restricted.