Skopje, 7 September 2021 (MIA) – The global economy is still very fragile and challenges are large. The general economic forecast has improved compared to last year, despite slow recovery, President Stevo Pendarovski said on Tuesday, addressing the inaugural Skopje Economic Finance Forum on “Economic recovery and growth post-COVID”, organized by the Ministry of Finance. Pendarovski underlined that immunization is a key factor for overcoming the crisis, adding that the process mustn’t slow down and that vaccine distribution must be balanced. The President said that vaccination is currently a global topic of debate, stressing the importance of having discussions based on real data with the aim of allowing economic policy creators a chance to propose solutions. He also noted that economies worldwide have registered significant GDP drops, stock market crashes and losses in nearly all industries, highlighting that countries across the world are struggling to protect public health, as well as to neutralize the harmful economic effects of the pandemic. Pendarovski added that the Macedonian economy is no exception to global trends, pointing out that measures were adopted to minimize economic losses and assist vulnerable sectors. “The Macedonian economy suffered large losses and will need time to recover. However, now we have sufficient data to know which decisions were wrong and shouldn’t be repeated and which ones produced positive effects,” President Pendarovski told the event. According to him, besides a security element, North Macedonia’s NATO membership is expected to result in medium and long term in enhanced economic stability and predictability, as well as new investments. Pendarovski also discussed during the event the standstill in the country’s EU integration process, stressing that it’s been caused by a blockade whose arguments go against the values of the European Union. The President underlined that full-fledged EU membership is North Macedonia’s priority, as there’s no better alternative to European values and principles, the basis of the common European market. Aside from the economic effects, he also discussed in his address the challenges of the COVID-19 pandemic to political stability, trust in institutions, rule of law and solidarity, stressing the importance of joint action at global level. “Immunization is the key factor for overcoming the crisis. The process mustn’t slow down and vaccine distribution must be balanced,” Pendarovski said. Moreover, he noted that sustainable economic development is impossible without investments in human capital, a precondition for which is support for young people, adding that society must develop their potential and invest in their ideas. “In the post-COVID period we’ll see a set of political and economic measures aiming to encourage fresh concepts,” the President told the conference.