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MILS: News from the FYROM, 97-05-20

Macedonian Information Liaison Service Directory - Previous Article - Next Article

From: "Macedonian Information Liaison Service" <mils@mils.spic.org.mk>


CONTENTS

  • [01] NECESSARY BALANCING OF TRADE WITH SLOVENIA
  • [02] PETAR STOYANOV: `LANGUAGE-ISSUE TO BE ADDRESSED CONCORDANT TO EUROPEAN STANDARDS'
  • [03] GOVERNMENT ACCEPTED FINAL BUDGET BALANCE FOR FY '96
  • [04] QUARTER 1: `INDUSTRIAL PRODUCTION INCREASED BY 2.9%'
  • [05] ACCOUNTS OF 6 677 BUSINESSES BLOCKED END OF FEBRUARY
  • [06] `TAT' BANKING SCANDAL: `10 000 SIGNATURES FOR CLIENT PROPOSAL'
  • [07] PROTESTS OF `FAS 11TI OKTOMVRI' EMPLOYEES
  • [08] `EMO' OHRID: `IRAQ AND SYRIA HAVE DEBTS OF 62 MILLION DOLLARS'
  • [09] INSTEAD OF EARTHENWARE - TWO TONS OF `POT'
  • [10] SOROS FOUNDATION: `MACEDONIA AIDED WITH 53 MILLION DOLLARS SO FAR'
  • [11] PANEL ON MINORITIES IN THE BALKANS

    MILS SUPPLEMENT

  • [12] `Retirement at 70' (`Vecher' - 15th May 1997)

  • MILS NEWS

    Skopje, 20 May, 1997

    [01] NECESSARY BALANCING OF TRADE WITH SLOVENIA

    A Parliamentary delegation of the Republic of Macedonia, headed by Parliamentary Chairman Tito Petkovski, has been staying in Slovenia as of two days ago - meeting the top political representatives of this country. MTV reports that yesterday our delegation has been received by Head of State Milan Kuchan, by Slovenian Parliamentary Chairman Janez Podobnik, by Lower House Chairman Ivan Krisman and by the coordinators of different factions. So far bilateral talks have been assessed as excellent, with particular emphasis on balancing the trade record which is currently not in favour of Macedonia's economy. In this context it has been revealed that the trade deficit of our country amounts to 100 million DM. The Macedonian side indicated that several administrative impediments subsisted with respect to importing Macedonian goods into Slovenia, especially in case of agricultural produce. Slovenian representatives expressed their willingness to speed up procedures conducive to the signing of all administrative treaties currently hampering cooperation. To this purpose debates focused on the ratification of bilateral treaties on investment protection, the social services convention, the evading of dual taxation, etc. During talks in Ljubljana it has been concluded that there is a joint view on fair play with regards to the race between Slovenia and Macedonia for temporary UN Security Council membership. Identical opinions are entertained in terms of succession issues, as both sides stress there are no open political questions. A further tie between both countries is the Macedonian community in Slovenia, which enjoys all rights in Slovenia.

    [02] PETAR STOYANOV: `LANGUAGE-ISSUE TO BE ADDRESSED CONCORDANT TO EUROPEAN STANDARDS'

    `Makfax' reports that Bulgarian President Petar Stoyanov has once again advocated the resolving of the language- issue which has been complicating relations between Sofia and Skopje. `We cannot ignore this issue', stressed Stoyanov in an interview for Sofia newspaper `Demokratija' - while adding that the solution should comply to European standards and the new reality throughout the European continent. This view by Stoyanov has been aired in response to the question on how he interpreted the recent statement by Bulgarian Deputy Foreign Secretary Valentin Dobrev for BBC, in which he favoured the recognition of the Macedonian language in order to overcome a bilateral issue obstructing the ratification of 20 treaties between both states. Sofia weekly `Sega' (`Now') published an interview of the Bulgarian Helsinki Human Rights Watch Chairman Krasimir Knev who was in favour of recognizing the existence of a Macedonian minority in Bulgaria and the registration of their organisation `OMO Ilinden'.

    [03] GOVERNMENT ACCEPTED FINAL BUDGET BALANCE FOR FY '96

    During yesterday's session the Macedonian Government adopted the draft of the final balance sheet of the National Budget for FY `96. Session records reveal that last year's Budget objectives had been achieved, generally speaking. These focused on maintaining a relative financial stability and equilibrium in the Republic of Macedonia. The Budget had totalled 46.364 million denars, of which 42.723 million were actually implemented. In order to re-assess macro-economic parameters throughout last year, there has been a change in the allocation of funds to different sectors - resulting in the downsizing of some and the increasing of others. In this sense, sources reveal, funds have increased to 410 million denars provide retirement pension and impairment insurance; unemployment benefits have been raised to 870 million, support for socially endangered households has grown to 80 million denars and dues related to hard currency assets have increased to 77 million denars. Decreases have been carried out with respect to goods reserves, railway constructions, improving the road network, etc. Yesterday the Government also analyzed submitted information as regards difficulties occurring during the processing of data on international trade and the impact this has on macro-economic policy. To this purpose it has been decided to compile a more detailed methodology on statistic research regarding international trade. This will define the basic principles and approaches of conducting statistic data-gathering. Yesterday the Government has also adopted information on offered financial support for the Republic of Macedonia by international financial institutions.

    [04] QUARTER 1: `INDUSTRIAL PRODUCTION INCREASED BY 2.9%'

    Throughout the first four months of 1997 industrial production in Macedonia has been increased by 2.9% in comparison to the same time span last year - the National Statistical Office revealed yesterday. Its data indicate that 1.7% fall off to a rise in machinery production and 13.9% to an increase in the production of consumer goods (which makes up to 40% of the overall industrial production). Of a total of 32 industrial branches, a positive production trend has been observed in 17 (headed by such sectors as electricity supplies, heavy metallurgy, machinery production, chemical industry, food and tobacco processing) with respect to 1996. The National Statistics Office, however, also pointed out that this April industrial production had taken a plunge by 12.6% in comparison to the previous month.

    [05] ACCOUNTS OF 6 677 BUSINESSES BLOCKED END OF FEBRUARY

    Based on data released by the Payment Flow Institute a total of 5 994 accounts belonging to as many businesses have been blocked last year in Macedonia. Of these 5 825 fall off to the economic sector. `Nova Makedonija' reports that conditions had deteriorated considerably over only two months in this year. Thus by the end of February the number of blocked giro accounts covered 6 677 legal entities with 104 410 employees and unsettled dues of 11.6 billion denars. According to the Payment Flow Institute this rise is mainly to be attributed to blocked accounts in the construction sector (increased by 25%) and in the industrial and mining sector (constituting 58.6% of all unsettled dues). Record-breaking figures in terms of unsettled debts have nevertheless been generated within light metallurgy and tobacco processing. Permanent postponing of returning these dues (resulting in 60-day blockades in one piece or with interruptions over the past 75 days) have been conducive to a total of 2 839 bankruptcy announcements by 2 109 legal entities covering 24 000 employees.

    The lack of liquidity of Macedonian businesses is also reflected by the ratio between demands and dues. The former amount to 90.1 billion denars requested from buyers, while debts towards suppliers amount to 98.9 billion denars. This means that there are 37.8% less demands than dues.

    [06] `TAT' BANKING SCANDAL: `10 000 SIGNATURES FOR CLIENT PROPOSAL'

    As of yesterday `TAT' bank clients from Bitola have started the gathering of 10 000 signatures which - concordant to legal provisions - should instigate Parliamentary debates on client restitution based on their own proposal instead of the one offered by the Government. During yesterday's press conference `TAT' bank client representative Mende Mladenovski stated that their proposal on restitution has been submitted to the Government and the Parliament as early as two and a half months ago - encountering nothing but deafness. Due to this Mladenovski announced that MPs of Bitola would be required to resign. The Macedonian Radio reports that Mladenovski further mentioned that clients had forwarded a letter to PM Branko Crvenkovski, requesting a meeting with Government and NBM officials in order to overcome present difficulties and the deadlock in terms of client restitution. While stressing that clients are looking for a sanation team from the Government, as well as that they are ready to make a compromise for the sake of arriving at an appropriate solution. Mladenovski stressed that should this request for a meeting be rejected, it could easily occur that things got out of control and unwanted consequences emerge. A-1 TV reports `TAT' Client Board member Krste Tashievski spoke about his meeting with `TAT' owner Sonja Nikolovska at the press conference. According to him Nikolovska revealed that most of the bank assets had been spent on the SDSM local elections campaign.

    [07] PROTESTS OF `FAS 11TI OKTOMVRI' EMPLOYEES

    Over 600 employees of the bus production facility `11ti Oktomvri' (`11th October') of Skopje have staged protests in front of the Government and the `Komercijalna Banka' (`Commercial Bank') premises yesterday. The Macedonian Radio ascribes this measure to the fact that part of the provisions outlined in the agreement signed after meetings on 17th and 21st April this year have not been fulfilled. These meetings had also been attended by the President of the Trade Union Federation, the General Director of the `Komercijalna Banka', the General Director of `11ti Oktomvri' and the Chairman of the Strike Board. Both the Government and `Komercijalna Banka' - shareholders in possession of 23% and 73% of the overall share capital of this company respectively, have been requested to finance and credit production - and to facilitate the regular payment of app. 1 300 employees. Representatives of the latter revealed that last year they have received merely four monthly salaries, while the company had closed contracts for the production of about 300 vehicles. As the Government, the `Komercijalna Banka' and the NBM could not reach a common denominator in terms of funding, production procedures have come to a halt. During a meeting between an employee delegation and Transportation Minister Dimitar Buzleski - according to the Macedonian Radio - another meeting with PM Crvenkovski has been scheduled, in order to discuss the fulfillment of aired demands and the compiling of a sanation programme for this enterprise.

    [08] `EMO' OHRID: `IRAQ AND SYRIA HAVE DEBTS OF 62 MILLION DOLLARS'

    For contracts carried out during the time span between 1986 and 1991 `EMO' Ohrid is still being owed a total of 62 million dollars by businesses in Iraq and Syria. `Vecher' reports that the former country had 55 million dollars in dues to forward, while the latter had to settle a 7-million-dollar debt. This had also been one of the subjects discussed with IMF Chairman Michel Camdessus during his recent visit to Skopje. The IMF official proposed a peaceful solution of these issues, as international legal measures for debt-settling had never been implemented with regards to these two countries. `Vecher' further reports that the `EMO' management will certainly bear in mind this advice. thus the company should soon commence export to a Syrian firm via a German enterprise which will ensure disbursement.

    [09] INSTEAD OF EARTHENWARE - TWO TONS OF `POT'

    Upon the news that a lorry of `Trans Veles' had been confiscated at the Hungarian border for transporting two tons of marihuana, MTV broadcast certain unofficial data on this case - as official police information is still lacking. It has been mentioned that the vehicle driven by Boris Tasev for Thessalonica-based transportation company `Stephanidis' had departed from the port of Pireya to make a delivery to the Czech Republic. The lorry had to reach Sofia via Veles, in order to obtain an entrance clearance for the Czech Republic. From the Bulgarian capital it continued towards the Hungarian border where the marihuana was discovered. Cargo declarations listed earthenware as the contents of this shipment, but what was eventually discovered was - pot! MTV also reports that the driver has been apprehended by Hungarian Customs authorities, the vehicle has been confiscated and investigations had been launched.

    [10] SOROS FOUNDATION: `MACEDONIA AIDED WITH 53 MILLION DOLLARS SO FAR'

    The `Open Society Institute - Macedonia' responded to the speech held by IMRO-DPMNE leader Ljupcho Georgievski at the protests of 15th May. In its reply, the Institute states that as of October 1992 George Soros had aided Macedonia with 53 414 637 dollars. Of these 27.5 million dollars had been loans to the Government, and 25.9 million had been allocated through annual budgets from 1993 to the present. Further data reveals that the Institute has no knowledge of whether Macedonia had received an equally substantial donation by any other side since its Independence. `Should Ljupcho Georgievski be in possession of such data it would be commendable of him to inform the public, which has been the witness of so many campaigns against George Soros and his Fund in Macedonia', the release concludes.

    [11] PANEL ON MINORITIES IN THE BALKANS

    In terms of upholding minority rights in the Balkans there are two categories of countries: one do so by adhering to relatively high standards, and others do deny the existence of minorities within their bounds. The first group consists of Macedonia, SR Yugoslavia and Romania - and the second is comprised of Albania, Bulgaria and Greece. `Dnevnik' reports this to be part of the debates led during a panel on the position of minorities in the Balkans, held in Skopje yesterday. The event has been organized by the Council for Peaceful Initiatives and the `Friedrich Ebert' Foundation. During discussions Zvonimir Jankulovski pointed out that there is no precise definition of the notion `minority' in any international treaty. The current state of affairs at the Tetovo and Gostivar municipalities were addressed by DPM leader Tomislav Stojanovski.

    MILS SUPPLEMENT

    [12] `Retirement at 70'

    (`Vecher' - 15th May 1997)

    Based on the views of experts of USAID contractor CARANA (which has set up its offices in Skopje a considerable amount of time ago) it is necessary to invest in compulsory but private retirement pension system - in addition to the reformed state system. This would mean that pensions would be secured through their synchronized functioning. We should stress rightaway that such recommendations are based on theories which need to be compared against current empirical conditions. Concerning the restructuring of the present retirement pension system, this process has been going on since 1994. But bearing in mind that this system is still not standing on `both of its feet' (state and private) - reforms have mainly been boiling down to the restricting of retirement and impairment insurance. What will future measures in this sector look like, concordant to the recommendations made by international experts... It has been proposed to declare 70 as the age limit for men in terms of retirement by the year 2013 for men and by 2023 for women. Early retirement would be possible at the age of 60 for both genders. The options for retirement on the grounds of accrued years of employment (as the sole reason) or obligatory retirement would be nullified. A newly introduced option would be a five-year leave of absence (which would be counted as accrued years of employment) for child care. The usual retirement pension rate would amount to 40% of the registered average income per month over one's entire career. Early retirement benefits would be adapted to current conditions, while its minimum value would total 30% of the national pay average over the total accruement of years of employment. This value would decrease in case of a smaller number of accrued years. The maximum pension would not exceed three average monthly incomes. One's current age as a criterion for obtaining pensions in the case of a deceased spouse may remain as a provision, with the changing of the age limit to 26 years in order to obtain support for child education. The level of these benefits would be retained as well up to the introduction of the private system when they could be lowered by changing the key yielding the actual tariffs. The same would apply to impairment benefits, but in this domain it only should be stressed that non-professional handicaps would remain covered by the state system. This means the exclusion of accidents at work. These, as well as work-related illness would remain the exclusive concern of the employer. To this purpose a new `Employee Compensation Fund' would be set up. This would be complemented by a system of risk premiums funded by the employers - and endorsed and regulated by the Government of the Republic of Macedonia. The Fund would be managed by a private insurance company, determined on grounds of submitted bids. In terms of financing, current funding methods would be retained, such as payroll contributions and pension trusts which would be established to forward withheld benefits and create reserves. It has been proposed to request a loan from the WB to finance the establishment of such a trust and to obtain the assistance of international executives in this matter up to the moment when sustainability will be ensured by local staff alone. In such a situation (with the parallel existence of a private system), payroll contributions would be decreased and separated according to what kind of pension needs to be provided (retirement, family or impairment pensions). There would also be a `glass ceiling' for payroll contributions, amounting to eight average incomes. The state retirement pension system does not make any provisions for payroll contributions by employers, as these funds are not considered employee income. Theoretically speaking, there should not be any tax alleviation for retirement pensions. As in practice personal income tax on pensions has been suspended in 1994, no alterations have been made in this respect due to current economic hardship. In a private pension system, tax would be introduced and these funds would excluded from payroll contributions - both from employers and employees, as well as in the case of accumulated revenues through investments. The new private pension system would also be compulsory and endorsed by the Government, while administrative services would be provided by private financial institutions (in contrast to the state system where this component is handled by the Retirement Pension and Impairment Insurance Fund of Macedonia). Funds would be managed by private investment managers, which would initially be international experts who would set up these means as trust funds. All employees (even those already covered by the state system) would possess their individual accounts. This kind of insurance would be financed in advance according to the following correlation: 10% of the net employee income would have to be submitted by the employer on an obligatory basis. 5% of additional funds may be forwarded on a voluntary basis. The same voluntary option would be offered to unemployed people. A small percentage of compulsory contributions could be used to purchase collective life and impairment insurance. the remainder would be allocated to individual accounts and exclusively belong to the owner, but be transferable should the latter change his place of employment. Those covered by this system would benefit from these funds from the age of 60 onwards (without actually having retired), and benefits would be determined on the grounds of: accumulated contributions, investment yields but minus an administrative fee. They would be given three options in terms of using the means obtained via compulsory contributions: the purchasing of annuities, their gradual withdrawal or remaining in the account. Optional contributions could be withdrawn at once. The balance sheet of each individual account (in case of a family pensions) may be bequeathed to one's descendants via several options, including the complete withdrawal due to permanent work-related impairment. Private investment managers (international ones in the beginning) would invest funds of individual accounts in order to secure profits for their pensioner-clients. In this case the Government would provide a guarantee for a minimum interest rate and against loss due to fraud and embezzlement.

    (end)

    mils news 20 May 1997


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