Special Report: Global Financial Crisis

    TIRANA, Nov. 27 (Xinhua) -- The Macedonian government announced on Thursday a 330-million-euro (425 million U.S. dollars) rescue plan to help the country's economy to tide over the global economic crisis.

    "The government has put up a package of 10 preventive measures for our economy, with the total amounting to 330 million euros," Macedonia's Prime Minister Nikola Gruevski told reporters.

    The sweeping measures include steps to provide help to companies in need, write off taxes on personal income, property and farmers, as well as reduce customs charges for importing raw materials.

    Gruevski said that Macedonia's banking sector has been relatively sound through the global financial crisis, but the country's broader economy could suffer certain consequences from the crisis.

    "A number of Macedonian companies export their products to the European and global markets, but certain countries have already entered into recession," Gruevski said.

    He said his government is closely monitoring the development, ready to undertake other measures if necessary to mitigate fallout from the global financial crisis on Macedonia's economy.