Macedonia is a country with stable economy and stable macroeconomic performances as external environment remains difficult. The envisaged growth of 2 percent is attainable, even though there are risks.

This is an assessment of the International Monetary Fund (IMF) made following its two-week visit to Macedonia, which was revealed Tuesday at a press conference in Skopje held by the mission's head Ivanna Vladkova Hollar and Deputy PM and Finance Minister Zoran Stavreski.

"The economy in Macedonia as well as its growth are positioned very well. A track record of conservative fiscal, monetary and financial policies gave the Macedonian authorities policy space to confront spillovers from the global crisis. As a result, Macedonia has avoided a major drop in production and a problematic capital drain. The country is positioned well towards restoring growth once the situation in Europe is improved. A moderate economic growth of 2% is still attainable, but subject to substantial downside risks," Hollar said.

She welcomed the clearing of outstanding debts in the public sector launched in September 2012 and concluded in February 2013.

The strong connection with the eurozone and the developments there also affect the Macedonian economy as a whole, according to her.

"To maintain macroeconomic stability is an essential condition for growth and it requires a sustainable fiscal policy to be provided by gradually reducing the deficit. Making room in the budget for investments in infrastructure, energy, education, training and workforce policies aim at combating unemployment," the IMF official said urging expenditures to be carefully projected.

FinMin Stavreski said that IMF's assessment was 'encouraging'.

"The overall assessment is that our position given the debt and budgetary deficit is adequate to the period in which we are operating and that Macedonia has good chances to enable the economic growth to recover and to get back on track of higher growth rates as soon as the conditions in Europe are stabilized," he stressed.

According to Stavreski, data from the beginning of 2013 suggest that there are chances to realize the projected growth of 2%, which would be based on the solid results yielded by the companies working in the free economic zones, local companies and on public investments in several key areas, including road infrastructure, communal infrastructure, energy...

"Risks still exist, because the conditions in Europe are still sensitive and the achievement of Macedonia's economy will largely depend on Europe's," he added.

It was concluded that the banking sector remains stable and that foreign exchange rates of the denar will remain stable through a monetary policy.

Asked to comment accusations by opposition parties that a Greek scenario was possible in Macedonia, the minister said they came as a result of political speculation calling them 'groundless'. "Macedonia in recent years has realized a growth, while Greece has been experiencing an economic fall," Stavreski noted.

The level of public debt is adequate to the capacity of Macedonia's economy, according to Hollar.

She added that growth rate was in line with the fiscal and monetary policy, which "are well positioned in order to prevent a spillover of the European crisis." "Due to the medium term fiscal strategy, Macedonia's debt level is very low since the start of the crisis. Fiscal policy is crucial and its enhancement will be one of the key priorities," IMF's Hollar said.