Category: Economy
News Economy 23.05.23 | 17:25

Trenchevska consoling the workers: there won’t be that much overtime work
Economy 22.05.23 | 18:55

Ombudsman: the number on complaints on the so-called “fast credits” is increasing

The number of complaints with the Ombudsman on the so-called “fast credits” in the South-Western part of the country is drastically increasing, the Office of the Ombudsman reported on Monday. “The situation is alarming, the fast credits lure large numbers of gullible people, catching...
News Economy 22.05.23 | 17:30

New Belgian investment in TIRZ Kicevo, worth 40 million euros

The Belgian company Avesta Battery and Energy Engineering (АBЕЕ) will build a factory for the production of EV batteries in the Industrial Zone in Kicevo. The total investment will amount to €40 million and it will provide for 600 new jobs. The agreement on the investment was signed on Monday in...
News Economy 22.05.23 | 16:56

Tripunovski: The State Bureau of Statistics corroborated the fallacy of SDSM agricultural policies

The State Bureau of Statistics confirmed on Monday what we were saying all these years – that the Government applies erroneous agricultural policies, wrote Cvetan Tripunovski from VMRO-DPMNE in a Facebook post. “The total value of purchased agricultural products in the first three months...
Economy 21.05.23 | 16:32

Union leader: It’s not possible to force workers into 60 hours weeks, as Bechtel wants

Ivan Peshevski, head of the union of construction workers, says that requiring people to work more than 40 hours a week on the planned Bechtel highways is against the Constitution. The DUI – SDSM Government is trying to amend a number of laws in line with Bechtel’s demands, and one of them...
Economy 16.05.23 | 10:46

Macedonia wants to connect to the fast rail project pushed forward by Hungary and Serbia

Transportation Minister Blagoj Bocvarski is expected to sign a contract with Serbia and Hungary, to build a fast rail link between Serbia and Greece. The rail line would be part of a major upgrade of Corridor 10 – Hungary and Serbia already completed a fast line between Budapest and Belgrade and...
Economy 15.05.23 | 23:08

The EU asked the Government to explain its handling of the Bechtel project

The Government has received a request from the European Union to explain the huge highway contract with the US giant Bechtel – that was done without an open competitive bid and includes a number of clauses that have raised corruption concerns. This was revealed by Government sources during today’s...
Economy 18.04.23 | 21:12

Kovacevski fullly endorses Bechtel’s demand for a 60 hour work week

Prime Minister Dimitar Kovacevski now fully supports changing the labur laws so that the work week is extended to 60 hours – instead of the current limit put at 40 hours. The request was made by the US Bechtel company which was recently given a huge no-bid contract by Kovacevski and his deputy...
Economy 18.04.23 | 13:20

It takes two centuries for the average Macedonian to make a million dollars

An average Macedonian needs two centuries to earn a million dollars, while an average Swiss does so in just 15 years, an estimate by Picodi.com shows. Macedonia is in a group with countries like Argentina, Albania, Turkey, and lags behind Croatia, Bulgaria, Serbia and Montenegro. The ranking includes...
Economy 17.04.23 | 17:52

Fitch: Macedonia’s credit rating outlook goes from negative to stable

The international credit rating agency Fitch elevated Macedonia’s outlook from negative to stable. The country remains rated BB+. This slight improvement in the rating means that Macedonia’s economy proved resilient to the external pressures, mainly the war in Ukraine, and that the country...
Economy 14.04.23 | 18:23

IMF: Macedonia will have the lowest growth rate in the region in 2023

The International Monetary Fund estimates that Macedonia will have the lowest growth rate of the entire region in 2023. According to the IMF, Macedonia’s economy will grow by just 1.4 percent. Serbia, Bosnia and Albania will grow by about 2 percent and Kosovo and Montenegro will be above 3 percent. Meanwhile,...
Economy 14.04.23 | 17:12

Company owned by the son of former Deputy Prime Minister Xhaferi had its debt erased by a state owned company

The U Power company owned by the son of former Deputy Prime Minister Musa Xhaferi is among the 14 energy trading companies who had their debts erased by state owned energy company MEPSO. The companies faced huge losses with the onset of the energy crisis, since they had signed contracts with fixed prices...
Economy 11.04.23 | 18:39

The Government allowed an increase in the price of fruits and vegetables

The Government allowed fruit and vegetable wholesalers to increase the prices above the caps that were introduced last week. The new price of tomatoes and cucumbers is 95 denars per kilogram, and peppers will be sold at 100 denars. Economy Minister Kreshnik Bekteshi said that the new prices are ordered...
Economy 11.04.23 | 17:28

Mickoski: The Government knowingly took an impossible obligation and will open the budget to paying large damages

VMRO-DPMNE President Hristijan Mickoski said that Dimitar Kovacevski and Artan Grubi will have to be held responsible for their handling of the contract and these obligations they undertook without consulting Parliament first. From what we can see in the contract, if we don’t amend the law on labour...
Economy 11.04.23 | 09:37

The Government will allow an increase in the regulated price of fruits and vegetables

Starting today, the Government will increase the prices of fruits and vegetables, after it capped them just several days ago. After disputes with the importers, the Government agreed to allow some of their products to go up by 5 or 20 denars, but demands that no staple fruit or vegetable is sold for...
Economy 09.04.23 | 21:18

Government begins fining fruit and vegetable traders who don’t deliver enough produce under the regulated price

Two dozen fruit and vegetable wholesalers were raided yesterday, and almost all of them will face fines of between 800 and 10,000 EUR. The reason for this is that they failed to deliver at least 70 percent of the usual quantities of produce that they delivered over the past year. The Government introduced...
Economy 09.04.23 | 09:01

Union warns that Bechtel will be allowed to overwork its employees

The SSM association of unions strongly criticized the proposals for new laws that are proposed in an urgent procedure before the Parliament, to facilitate the large Bechtel highway project. One of the laws would allow the company to ask for more than 8 hours of overtime per week from its workers and...
Economy 08.04.23 | 19:52

Public funds given for corrupt energy contracts were used to buy villas in the Aegean coast

Regarding the resignation of Vasko Kovacevski, head of the state owned ELEM/ESM power company ,VMRO-DPMNE President Hristijan Mickoski said that under his term the once profitable company had to be propped up with 200 million EUR from the budget just to keep the lights on. Only in 2022, the citizens,...
Economy 07.04.23 | 14:17

Despite delays, Kovacevski says that the construction of an e-vehicle plant in Tetovo will go ahead

Even though the E-Go company failed to begin construction of the electric cars plant in Tetovo that was announced, Prime Minister Dimitar Kovacevski insisted that the investment will go ahead. He told the press that the company hasn’t drawn any of the millions in state subsidies that are pledged...
Economy 07.04.23 | 09:54

The Government will order traders to provide fruit and vegetables at the regulated price

Following reports of shortages of fruit and vegetables, that are coming after the Government capped the prices of the main staple items, Economy Minister Kreshnik Bekteshi said that the Government will order wholesalers to provide at least 70 percent of the quantities they offered in January and February. This...
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