Macedonian Fin Minister Besimi: Everything must go, it’s all on sale

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Finance Minister Fatmir Besimi said that the Government will try to reduce the huge deficits and lack of money as a result of rampant thievery, by selling off a number of fully or partially publicly owned companies. Most iconic among them is the Macedonian Post Office, whose sale was already announced by Zoran Zaev.

A note on the Postal Office, a Canadian Company wanted to purchase Macedonian Post back in 2004, which would have resulted in the opening of a Canadian Embassy (Canada opens Embassies mainly where it has business ties), however SDSM officials sought large payment under the table, which they didn’t get. As a result, the Post stayed the way it is, corrupt beyond belief with tens of millions of euros in losses yearly due to over-employment. And of course, Canada is still represented in Macedonia with only a Consulate despite being home to hundreds of thousands of Macedonians.

The Post Office is in serious trouble after the forced collapse of Eurostandard Bank, which had an exclusive contract to conduct financial transfers and payments through the many postal branches. After the bank was removed, due to highly dubious approval of loans to companies with ties to Zoran Zaev in Strumica, the SDSM leader said that the best solution would be to have a new, much broader public – private partnership contract with a different bank, which is likely to result in its sale.

Other companies which Besimi said could be sold off are the freight and passenger divisions of the Macedonian Railways, the Prilep tobacco company, Eurokompozit – also a Prilep based manufacturer of military equipment and OHIS – the long defunct chemical plant in Skopje which sits on a huge plot of potentially valuable land. The sale of the oil fired power plant TEC Negotino is already under way.

Besimi announced a deficit of over 600 million EUR, and that is if revenue projections hold, that were already widely off the mark in 2020.