Skopje, 13 September 2021 (MIA) – In the period September 2021-August 2022, 93.8% of private companies are planning new investments, standing at a total of EUR 161,054,020, show the results of a survey conducted by North Macedonia’s Economic Chamber. Economic Chamber representative Antoaneta Manova Stavrevska told a press conference on Monday that investments are the key to economic recovery during the pandemic, as well as long-term, for reaching GDP growth rate of over 5% in order to ensure quicker convergence with some EU members. “Compared to 2019, the last pre-pandemic year, 75% of companies said they’re planning on investing more in the next 12 months, with 37.5% planning over 51% higher investments than in 2019. Planned investments stand at EUR 161,054,020 and are allocated as follows: 64% for machines and equipment, 21% for buildings and property, 4.2% for ICT and software and 22.9% for other capital investments,” Manova Stavrevska said. According to survey results, companies believe realization of planned investments will produce the following effects: increased turnover (79.2%), increased profit (75%), new job positions (72.9%), increased production (68.8%), increased export (52.1%). EUR 58,198,026, i.e. 36.1% of planned investments are set to end up in North Macedonia’s budget, as taxes, customs, excises, etc. Moreover, companies have listed the following as limiting factors that can impact the realization of planed investments in the next 12 months: legal regulations and expenditures - 62.5%, infrastructure - 43.8%, lack of qualified workforce - 41.7%, lack of funding - 35.4%, decreased demand for products/services - 33.3%, other factors – 18.8%.