Skopje, 23 September 2022 (MIA) - Implementation of the reforms that support the stable development of the financial system aimed at maintaining the high level of macroeconomic and fiscal stability, remain one of the main priorities of the Government and the Ministry of Finance, Finance Minister Fatmir Besimi said Friday in his opening speech at the 21st annual conference of the Macedonian Stock Exchange (MSE). He also said that as we are facing a number of challenges in respect to various crises, but we are committed on integration processes, the EU screening process and reforms that will enable continued and accelerated growth. “We live in times of crisis, especially in recent years. We are facing economic challenges through which we must have quick and efficient responses, while at the same time supporting long-term objectives. Therefore, both the private sector and us policy makers need to prepare policies that will be sustainable and respond to crises, while not forgetting reforms and development,” Besimi underlined. Pointing out that measures are being taken in terms of ensuring fiscal and macroeconomic sustainability, he said that work is being carried out on a new concept of tax reforms, the Law on Budgets has been adopted, but that work is being done in the area of the development of financial markets, new laws in terms of introduction financial companies, new funds as well as the development of the financial markets, which is a long-term strategy that will mean a bigger and more successful market, despite the world projections that this year will be difficult, but next year, according to the global geostrategic movements and in the European market, we should look at another trend with respect to growth. Minister Besimi said that we remain a serious partner of the Stock Exchange in the area of development of financial market regulation. “The largest amount of trading in bonds is the government bonds on the Stock Exchange. This year, the Ministry of Finance announced another bond for denationalization of EUR 6 million and according to the law, the issuance of another bond for denationalization is expected next year,” Besimi said. He also referred to new financial instruments, such as green bonds, development bonds, inflation indexed bonds as well as the zero-coupon bonds, which is still in the analysis and processing phase, and would actually be for withdrawing cash from the economy from the time of the transition onward. Besimi noted that the European integration process of the Republic of North Macedonia is also important for financial markets. “NATO membership as well as the start of EU accession negotiations have contributed to a positive signal from international financial markets. It is expected the screenings to be completed during next year, with which the national legislation will be continuously aligned with the EU legislation in the area of the internal market and financial regulation,” he added. At the annual conference organized by the Macedonian Stock Exchange, Minister Fatmir Besimi was presented with a plaque for the successful cooperation between the Ministry of Finance with the Macedonian Stock Exchange.