The budget and its needs, as well as payment of liabilities in the upcoming year are to be fully secured with the announced funds coming from the World Bank and other creditors, Vice Premier and Finance Minister, Zoran Stavreski told reporters on Wednesday.

"We have agreed on two arrangements with the World Bank. One refers to budgetary support in the amount of US$ 50 million, for reforms contributing to the competitiveness of Macedonian economy. The other is the World Bank guarantee for the country's economic policies and reforms in several sectors. This guarantee will emerge when Macedonia asks for funds in the amount of EUR 200-250 million from commercial banks. The exact amount will depend from the conditions and offer from the banks. The World Bank funds and the ones from other creditors, along with domestic financing will fully cover the budget and its needs for the coming year, but also payment of all liabilities, thus improving the economy's liquidity", said Mr. Stavreski.

He added that Macedonia would not become a high-indebted country as a result of these actions.

"Even with these funds, Macedonia remains a low-indebted country, i.e. among the five lowest indebted in Europe, since we repay loans and liabilities both at home and abroad in parallel", stressed Mr. Stavreski.

The Finance Minister elaborated that the Government is repaying EUR 145 million in liabilities in 2012, resulting the debt's reduction. These liabilities amount to EUR 345 million in 2013, EUR 175 million of which the Eurobond that matures on 8 January.

"Therefore, we will repay half of the total funds at the beginning of January. I believe these indicators show that Macedonia remains a low-indebted country", underlined Minister Stavreski.