FINANCIAL DISCIPLINE IN REPUBLIC MACEDONIAWAY OF MORE EFFICIENT MODE FOR ENTERPRISES’ ACTIVITIES

• Main Authors: EMILIJA MATESKA, SNEZHANA OBEDNIKOVSKA, ALEKSANDAR MATESK
• Format: Article
• Language: English
• Published: Academica Brâncuşi 2015-04-01
• Series: Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie
• Subjects: – liquidity; financial discipline; business transactions; term; financial obligations.
• Online Access: http://www.utgjiu.ro/revista/ec/pdf/2015-02/54_Mateska,%20Snezhana.pdf

The severe economic crisis that occupied the world economy can be felt in the Republic of Macedonia, too. The low solvency and the decreased buying faculties of the population and firms are a major problem in the economics in general. A great capability and power is necessary in order to survive in these difficult economic conditions, as well as a constant alertness by the firms as instigators of the economic activity in every country. Enitieis in the Economy are realizing different tipes of transactions making financial obligations that, ussualy can not be fullfiled. As a result there is a problem with financial recovery that disrupts their liquidity, and at the end point, their activity in the economy is worsens. Because of that, the Law for Financial Discipline was voted, for the first time in Republic of Macedonia in December 2013. This Law is regulation for payments on time for all financial activities made between private entities, also for financial activities made between entities among public and private sector preventing failure of the financial obligations on agreed terms. In this article we would like to determine the reasons and needs for finding the way which will be regulatory instead of punishment for successful financial discipline of the entities, that will improve their liquidity and, of course, to ensure better activities in the economy as a whole.