Steiner, Michael (Mitzhael Steiner) (Munich, MRG, 28. ⅺ 1949) – German diplomat. He was the head of the Liaison Office for German Humanitarian Aid in Zagreb (1991-1992), head of the coordinating body for multilateral peace efforts in the Ministry of Foreign Affairs (1992-1994), the head of the Special Unit for Peace Effort for the former Yugoslavia (1994-1995), German member of the Contact Group for Yugoslavia (1994-1995), chief deputy of the International Community High Representative for BiH (1996-1997), a special representative of the UN Secretary General for Kosovo (2001-2003), in whose mandate (the 23. ⅴ 2002) The Provisional Assembly of Kosovo adopts a resolution on the non-recognition of the Agreement on the description and leakage of the border between the Republic of Macedonia and FRY. Steiner’s position is that the agreement must be respected in that direction, invests all efforts, including the declaration of resolution null and void. Exhibition: Ministry of Foreign Affairs of the Republic of Macedonia, Skopje 2007. T. Petr. austerity. National savings comprise the savings of the population (the unspent part of the population income), the state of the budget balance (the budget surplus increases national savings, and the budget deficit is a negative savings) and the undistributed part of the profits of enterprises. Saving is a basic source of investment. Although different at different time periods, the propensity for saving the population in the SRM was quite high (it can also be determined by the relatively high share of bank loans in financing investments in the period 1965-1975) and made significant contribution to financing investments And in the dynamics of growth. Immediately after the monetary independence, Macedonia is experiencing a sharp decline in savings. Thus, gross domestic savings reaches the bottom in 1992, when it amounts to only 2.4% of the gross domestic product. The extremely low level of domestic savings in the transition period is due to several basic reasons: the long-standing economic stagnation in the 1980s, a sharp recession followed by a major decline in real income in the first half of the 1990s, long-standing experience with high inflation and maintenance of real Negative interest rates in the 1980s and early 1990s, etc. Starting in the mid-1990s, a certain recovery of savings, as a consequence of the gradual revival of the economic activity and the establishment and maintenance of the stability of prices. However, domestic savings S “still maintained at a very low level, which can in no case be the basis for more intensive investment activity. This means that in the medium term, the low volume of domestic savings continues to be a limiting factor of the growth of the Macedonian economy. Citizens’ savings in banks as an additional problem in terms of savings occurs the low volume of the part of the savings, which is held within the official financial system. This specifically refers to the 1990s, when most of the savings are held outside the banking system, as a consequence of several basic reasons: poor experience with the fate of the old foreign currency savings from the time of the SFRY (the ILO problem of the “captured” savings ), the lost confidence in financial institutions as a consequence of the financial scandals related to the collapse of several savings houses (in particular, the affair with the Savings House TAT), the high degree of political uncertainty, etc. Later, along with the process of introducing the euro, there is a massive influx of foreign currency savings and their retention in the banks – a process that marks the gradual return of trust of the population in the banking system. As a consequence, in the period after 2001. There is an intense increase in banks’ savings. Thus, at the end of 2004, the total household deposits and legal entities in banks amount to 25% of the gross domestic product, unlike 1995., when that percentage is only 5.8%. At the same time, the structure of savings in the banking sector is also unfavorable due to the dominance of short-term savings. For example, at the end of 2006 Long-term deposits (with maturity over one year) participate with 8% in the total time deposits of the banking system. In that sense, the lack of long-term financial potential occurs as a serious limitation in providing sources for financing investment activity. Source: State Statistical Office of Macedonia. Lit.: Goran Petrevski, Monetary Policy – Theory and Experience of Macedonia, Association for Socio-Economic Development, Skopje, 2005. P.
Original article in Macedonian language Cyrillic alphabet
Кириличен напис ШТАЈНЕР, Михаел