Category: Economy
Economy 16.03.23 | 08:47

State Market Inspectorate to control prices of pasta and dairy products

Inspectors will be on the ground and carry out checks whether traders have complied with the Government’s decisions to reduce the prices of pasta and dairy products, which takes effect as of Thursday, said the State Market Inspectorate. According to the State Market Inspectorate, inspectors will...
Economy 15.03.23 | 15:47

Andonov: 90 percent of total electricity needs in February provided for by domestic production

In February, 90.2 percent of the total domestic electricity needs are provided by domestic production facilities, while the remaining nine percent are from imports, the government’s special advisor for energy Viktor Andonov told a press conference on Wednesday. This, Andonov pointed out, has not...
Economy 14.03.23 | 13:47

Egg prices in EU increase by 30% over one year

Eurostat data for January 2023 show that the price of eggs in the EU was, on average, 30% higher than in January 2022. Among the EU countries, the highest increase in annual inflation for eggs was recorded in Czechia (+85% in January 2023 compared with January 2022), followed by Hungary (+80%) and Slovakia...
Economy 14.03.23 | 09:02

Bytyqi: Minimum wage to stand at MKD 20,175

The minimum wage will be increased by MKD 2,175, and will amount to MKD 20,175, said Deputy PM for Economic Affairs Fatmir Bytyqi. This is the result of the government’s care for all categories of citizens, to ensure a continuous sustainable standard of living and support the purchasing power of...
Economy 13.03.23 | 15:14

Price of diesel drops, gasoline prices up

The price of diesel is set to drop by MKD 1 per liter as of Monday midnight, while gasoline prices will go up by MKD 1, according to a decision by the Energy Regulatory Commission (ERC). According to the new price, as of midnight, EUROSUPER 95 will amount to MKD 83.5 denars per liter, while EUROSUPER...
Economy 13.03.23 | 10:45

Economic-Social Council to make decision on minimum wage amount

The Economic and Social Council is expected to make a decision on the amount of the minimum wage at a session on Monday. The Government’s expectations are that the minimum wage will increase, amounting to about 20,000 denars.
Economy 11.03.23 | 17:22

The 500-denar banknote now has the same value as the 100-denar banknote

The average salary increased but in an artificial way. And the increase in an artificial way encouraged one degree of higher inflation, and this is noted in the World Bank Report, says Anastasija Ilieska from VMRO-DPMNE in a phone call with Kanal 77 Stadium show. Ilieska added that Macedonia is facing...
Economy 11.03.23 | 09:33

Unemployment in Q4 of 2022 at 14 %

The unemployment rate in the Republic of Macedonia in the fourth quarter (Q4) of 2022 was 14 percent, said the State Statistical Office on Friday. The activity rate in this period was 54.9 percent, while the employment rate was 47.2 percent. In Q4, the labour force in the Republic of Macedonia numbered...
Economy 10.03.23 | 14:26

Pasta prices drop by 15 percent, dairy products by 10

Pasta prices will be reduced by 15 percent and dairy products by 10 percent, and their prices will be capped, said Prime Minister Dimitar Kovacevski on Friday. The price of pasta, macaroni and spaghetti is reduced by 15 percent or on average by eight to nine denars. Customs duties for the import of these...
Economy 09.03.23 | 14:38

Prices of pasta and dairy products to freeze

Tomorrow, the government will announce the limit on the prices of pasta and dairy products, following the example of bread. The Minister of Economy, Kreshnik Bekteshi, said that they will intervene in the prices of other products, that is, wherever there are “profits or margins from what is regular”. Tomorrow...
Economy 08.03.23 | 12:29

Macedonia will pay 18 million EUR more for the poorly executed bond issue

The chaotic reconstruction of the Government, to accommodate another ethnic Albanian party – the Alliance of Albanians – will cost the country 18 million EUR in extra interest on the large bond that was being issued at the time. Justice Minister Nikola Tupancevski refused to approve the bond...
Economy 07.03.23 | 22:27

Inflation watch: Prices went up by 25.3 percent in a year

In one year, the price of food and beverages went up by 25.3 percent, the State Statistics Bureau informed. According to their latest inflation related data, overall the cost of living went up by 16.7 percent and the index of retail prices went up by 12.4 percent yoy.
Economy 07.03.23 | 18:43

Negotino power plant will spend 210 million EUR on oil this year

With the closure of TEC Oslomej – one of the two auxiliary thermal fired power plants in Macedonia – the Government approved a transfer of 210 million EUR to TEC Oslomej, to enable this oil fired plant to purchase sufficient quantities of oil. Both the Oslomej (near Kicevo) and Negotino plants...
Economy 07.03.23 | 17:52

Cost of living expenses rise to 835 EUR

Cost of living expenses rose to 50,909 denars in February, the SSM union informed. This is the cost for sustaining a family of four with the basic necessities, such as food, housing, hygiene and transport. This equals to 835 EUR – or more than one and a half average salary.
Economy 03.03.23 | 10:58

Kovacevski left the citizens without bread

The Kovacevski Government left the citizens without bread, accused the VMRO-DPMNE party, as Macedonia enters its third day with the large industrial bakeries shut down. The Kovacevski Government capped the price of bread at a maximum of 33 denars per 450 grams loaf, which prompted two dozen major producers...
Economy 02.03.23 | 23:43

Dimitrieska: VMRO-DPMNE proposed steps that would have prevented the bread shortages

VMRO-DPMNE proposed measures that would have avoided the bread shortages, said the party’s Vice President Gordana Dimitrieska – Kocoska in her Sitel TV interview, as Macedonia woke to a second day with almost no bread in the major stores. After the failed attempt to reduce food prices by...
Economy 02.03.23 | 09:06

Powerful public sector union demands higher wages

Trpe Deanoski, head of the UPOZ union that represents public sector employees, called out the Government for the failure to keep the salaries rising in pace with inflation. Even with the minimum wage increases, the rise in inflation is far greater than the rise in salaries. In just one year, inflation...
Economy 01.03.23 | 14:38

Bread shortages reported across the country after the Government capped the retail price

Across the country, citizens are reporting bread shortages at the stores. The main industrial bakeries did not make the morning deliveries, after Prime Minister Dimitar Kovacevski froze the price of bread to 0.5 EUR per half a kilogram loaf. We all agreed to respect the decision of our chamber that was...
Economy 01.03.23 | 11:31

Bread shortages reported a day after Kovacevski froze the price to half a euro per loaf

Citizens are reporting bread shortages in the stores a day after Prime Minister Dimitar Kovacevski froze the price of bread to 0.5 EUR per loaf of half a kilogram. The move was made after Kovacevski’s failed attempt to reduce food prices by giving energy subsidies to industrial bakers. Other cost...
Economy 28.02.23 | 15:37

Government ends energy subsidies for food producers, freezes the price of bread, sparking fears of shortages

The Government announced that it is ending its program of energy subsidies for food producing companies and is limiting the price of white and semi-white bread in loaves of 450 grams to 33 denars per loaf. The move was announced today by Prime Minister Dimitar Kovacevski and Economy Minister Kreshnik...
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