Prime Minister Nikola Gruevski told reporters on Saturday that economic circumstances in Macedonia in time of Europe's debt crisis and recession are not great, but solid.

"We have stable macroeconomic policy, currency stability, highest level of foreign currency reserves", said Gruevski.

According to him, in a time when Europe is faced with crisis, one cannot expect things to be great in Macedonia, but achieve as much as possible in such a difficult situation.

"We are faced with Europe's debt crisis and recession in the EU, which is our main market, where we export 60 percent of our commodities. Our debt is about 26 percent of the GDP, being the fourth-lowest in Europe, resulting from the sound economic policies", said PM Gruevski.

He added the Government is continually monitoring economic developments, proposing new measures.