Deputy PM and Finance Minister Zoran Stavreski, EU Ambassador Aivo Orav and Finland's Ambassador to Macedonia, Juha Ottman marked Thursday the start of an EU-funded twinning project for support to the Ministry of Finance to strengthen its capacity for macroeconomic analysis and policy formulation.

The project aims at supporting the Ministry of Finance to improve economic analysis and forecasting skills as well as design a coherent medium and long-term macro-fiscal framework through further development of the capacity for macroeconomic and tax revenues modelling, cost-benefit and fiscal analysis and improvement of the process of budget planning. Launched in December 2012, the project is being implemented by Finland and the Kingdom of the Netherlands.

Minister Stavreski said that top national priority of Macedonia was to join the European Union, which " enjoys an overwhelming support in the country and represents a strong incentive and roadmap for the government's reforms."

"At the same time, we are fully aware of the challenges ahead for us in meeting this goal. It is crucial for the country to strengthen the capacities of its public institutions, including that of the Ministry of Finance," Stavreski stressed.

In recent times, he added, the government has implemented numerous reforms with regard to meeting the economic criteria for EU membership and for obtaining a status of functional market economy.

"However, the country was affected by the global economic crisis. Still, Macedonia compared to other countries had attained excellent results. In 2010 and 2011, there was an economic growth of 2.9 i.e. 2.8%, being one of the best results in Europe. These governmental policies were also recognised by international rating agencies by affirming Macedonia's credit rating," the FinMin said.

Speaking at the event, EU Ambassador Orav said that the activities envisaged by the project would contribute to meeting the economic criteria and conditions stemming from chapter 17, which are necessary for the accession process.