The reduction of the fines for domestic companies along with many other measures make Macedonia to be one of the countries with best business climate in Europe and further enable the Macedonian economy to score good results, Deputy PM and Finance Minister Zoran Stavreski said.

By reduction of the fines for companies, the government has fulfilled its promise given to domestic companies thus contributing to further improving the environment for their work. Drastic reduction of the fines for companies is mainly important for the small and medium-sized companies.

The fines will be lower six to seven times for small companies and two to four times lower than previously for the medium-sized companies, which means if the fine is to be imposed will not significantly affect companies’ operations, Stavreski told reporters during his visit to the Macedonian Chambers of Commerce.

The purpose of the fines is not to affect the operation of the companies, but only warn those who violated the law and to further continue with the work. That goal will be achieved in this way, by determining fines in relation to the size of companies, Stavreski said.

President of the Macedonian Chambers of Commerce Daniela Arsova said that by initiatives of the Macedonian Chambers of Commerce to improve the business as part of the package of measures in 2013 are being adopted continuously by finding ways to integrate them. The package of legislative changes, in particular the amendments to the Law on Misdemeanors passed in parliament, has significantly declined the severe fines with which the companies faced in recent years, Arsova said.