The restructuring of enterprises – consolidating and improving the economic performance of enterprises through property, production, financial and governance restructuring. The first special program for restructuring 25 enterprises, the so-called. The largest loss-making, Macedonia implemented in the early transitional years, in cooperation with the World Bank, within the framework of the Social Reform and Technical Assistance Project. The restructuring of the 25 large enterprises, which in its operations registered losses, took place with a separate law and included: stopping the outflow of cash money from these enterprises, firing excess employees and reducing the costs of operations, managerial and financial reorganization , Support of the companies of enterprises that were a healthy nucleus and could survive in the market conditions of the management and closure of parts that did not have a perspective and could not be sold (privatized). The project was realized in difficult conditions and variable success. Later, the process of restructuring enterprises continued with the intensification of privatization, also with variable success. The restructuring of a part of large enterprises took place by selling foreign strategic investors (Makstil, Feni, Jugohrom, Bucim, etc.). The Government often used the method of grouping its claims towards large enterprises on various grounds (unpaid liabilities to the Electric Power of Macedonia, Macedonian Railways, Public Revenue Office, the Agency for Restoration of Banks and the Agency for Commodity Reserves) and their sale of strategic investor. The restructuring of the enterprises (the real sector) in Macedonia was slow and insufficient quality, which testifies the low value of the EBRD indicator for the management and restructuring of enterprises (2+). Such a situation, synthetically speaking, was conditioned by the insider character of privatization (old-new owners were not always successful in the consolidation of enterprises), but also from the insufficient courage of governments to face growing social politician tensions carried by reforms, which is why these Threat, especially in pre-election periods. More wider, the process of restructuring large socialist enterprises was followed by a number of new, private, small and medium-sized enterprises that today have dominant share in the creation of GDP, the added value and employment in the country’s business sector. Exhibition: EBRD, TRANSITION REPORT 2005, 4; T. Fiti, V. Hadji Vasileva – Markovska, M. Bateman, Entrepreneurship, Skopje, 2007, 235-236. T. F.
Original article in Macedonian language Cyrillic alphabet
Кириличен напис ПРЕСТРУКТУРИРАЊЕТО НА ПРЕТПРИЈАТИЈАТА