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N. Macedonia eyes investments of 8.2 bln euro by 2027

N. Macedonia eyes investments of 8.2 bln euro by 2027 SDSM/All rights reserved.

SKOPJE (North Macedonia), May 31 (SeeNews) - North Macedonia's government said investments in several sectors of the local economy are expected to reach a total of 8.175 billion euro ($9.98 billion) in the 2021-2027 period.

Some 5.791 billion euro of the total amount is planned for public investments, whereas the remaining 2.384 billion euro will be private investments, North Macedonia's government said in a statement on Saturday.

The government is expecting investments worth 3.144 billion euro in the energy sector, 2.729 billion euro in road and railway infrastructure, 798 million euro in the manufacturing industry and 300 million euro in the retail sector.

It also expects investments worth 500 million euro in the public healthcare system, 504 million euro in environment infrastructure and 200 million euro in the tourism sector.

The country expects to attract foreign investments from companies based in Germany, Italy, Canada, Turkey, the US, Belgium, Switzerland, the Netherlands and Slovenia by 2027, prime minister Zoran Zaev said when presenting the investment plan at a news conference streamed on the government's YouTube channel.

The investment plan will help the country recover from the Covid-19 crisis and give a boost to the standard of living, and the growth of gross domestic product (GDP) and exports, Zaev said.

Foreign direct investment (FDI) into North Macedonia totalled 239.8 million euro last year, compared to a net inflow of 398.76 million euro in 2019, central bank data showed earlier this year.

($ = 0.8197 euro)