The Minister of Economy of North Macedonia, Kreshnik\u00a0Bekteshi, attended the Tirana Economic Forum on Tuesday, where among other things he also spoke about the energy crisis that has hit the country.<\/p>\n
He said the government has subsidized 80% of the energy price in order to shield households and businesses, as well as allocating \u20ac172 million for the state-owned energy company.<\/p>\n
\u201cNorth Macedonia handed \u20ac172 million to increase the liquidity of the state-owned company ESM, in addition to subsidizing 80% of electrical power, if we calculate it based on the price in the market\u201d, he said.<\/p>\n
Among the goals of the current government is delivering on the demand for natural gas, in order to be competitive in the region, Bekteshi added.<\/p>\n
\u201cIn the next two years, we will triple the installation capacity of North Macedonia in terms of electrical energy resources\u201d, he said.<\/p>\n
The Forum placed particular emphasis on energy, such as necessary efforts to diversify resources, challenges faced by foreign investors as well as the steps that the government is taking to open the energy stock market.<\/p>\n
The President and CEO of Bankers Petroleum Albania, Qing Fang, said one of the hurdles encountered by businesses are deadlocks in courts.<\/p>\n
\u201cThe confidence of our investors has been negatively affected by judicial disputes, where for many cases we have to go to the court. So, we have many open trials. Instead of taking our business forward, we\u2019re locked legal disputes\u201d, added Fang.<\/p>\n
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