Category: Economy
Economy 25.02.23 | 19:37

Minimum wage at MKD 20,175 as of March

The Ministry of Labor and Social Policy said minimum wage will increase by 12.55 percent, i.e. it will stand at MKD 20,175 as of March. “This means that citizens get higher salaries by over MKD 2,000,” said the Ministry. Amendments to the law on minimum wage, adopted in March 2022, established...
Economy 25.02.23 | 13:37

Bread prices to freeze as of Tuesday, not to exceed MKD 33

Economy Minister Kreshnik Bekteshi told a press conference on Saturday that bread prices will freeze as of Tuesday, and won’t exceed MKD 33. This is just the first step of the products listed in the Government’s decision. New decisions on price freezes will follow. Analyzes are being made...
Economy 23.02.23 | 14:52

Most of the food manufacturers that pay cheaper electricity all winter have not lowered their prices at all

The Ministry of Economy wants to scrap electricity subsidies to food manufacturers given that up to 70 percent of them have not lowered their prices as was agreed back in November, Economy Minister Kreshnik Bekteshi said in an Alsat TV interview, adding the state would keep subsidizing the energy bills...
Economy 23.02.23 | 09:09

Nikoloski: The Government will break the 60 percent debt to GDP barrier

VMRO-DPMNE Vice President Aleksandar Nikoloski said that the growing budget deficit will add 800 million EUR this year, and Macedonia will break through the 60 percent of debt to GDP psychological barrier. This spending goes to crime, corruption and buying off voters. For comparison sake, the highway...
Economy 22.02.23 | 14:14

Average net wage reached MKD 34,364

The average monthly net wage paid per employee in December 2022 was MKD 34,364, which represents an increase of 14.8% compared to December 2021, the State Statistical Office said on Wednesday. This increase is caused by the increase of the average monthly net wage paid per employee in the sectors: Manufacturing...
Economy 21.02.23 | 12:26

Besimi: We are ready to issue Eurobond, investors have confidence

The Ministry of Finance is ready and can immediately enter the international market by issuing the Eurobond, as soon as the procedure for electing the Minister of Justice is completed in the Parliament. I expect the next auction to be successful. Behind this process is a consortium of banks with which...
Economy 20.02.23 | 14:02

Diesel, gasoline prices go up

As of Monday midnight, the prices of gasoline Eurosuper BS-95 and of Eurodiesel (D-E V) go up by MKD 0.5 per liter, while the price of Eurosuper BS-98 rises by MKD 1 per liter, according to a decision by the Energy Regulatory Commission (ERC). The new price of Eurosuper BS-95 will be MKD 82.00, Eurosuper...
Economy 18.02.23 | 18:23

“Inflation in Macedonia is double that of the Eurozone”

VMRO-DPMNE President Hristijan Mickoski called out the Government for its failure to curb inflation, or even keep it at the level of the other countries in the region or Europe. Mickoski pointed out to the latest inflation data, showing that the cost of living in January is up by 17.1 percent yoy, and...
Economy 18.02.23 | 15:38

Export to import ratio drops below 70 percent

Macedonia reached the worst trade balance level of the past eight years, warned VMRO-DPMNE President Hristijan Mickoski. Export volumes were only at 68.4 percent of imports in 2022, Mickoski noted. In all previous seven years, the rate was above 70 percent, reaching up to 76.5 percent in 2018. This is...
Economy 18.02.23 | 11:49

VMRO-DPMNE: Macedonia is forced to pay higher interest rates after the failed debt roll-over

Macedonia will pay higher interest rates after the failure of its attempt to issue a 600 million EUR bond in order to revolve its debt. The bond issue was planned to go ahead this week, but due to the Government reshuffle and the sacking of the Justice Minister Nikola Tupancevski refused to give his...
Economy 17.02.23 | 16:34

Mickoski: Macedonia will pay damages for the failed bond issue

VMRO-DPMNE President Hristijan Mickoski warned that the country will face penalties after the issuing of a large, 600 million EUR bond, was blocked due to the divisions in the Government. Outgoing Justice Minister Nikola Tupancevski refused to sign off on the bond issue and now the funds, necessary for...
Economy 17.02.23 | 09:27

EBRD: Downward projection of Macedonia’s growth in 2023

European Bank for Reconstruction and Development revised its estimates for Macedonia’s economic growth downwards, and now projects just 2 percent growth in 2023. Its previous estimate was for 2.3 percent growth. The drop is largely due to the high inflation and spiking energy prices. EBRD puts...
Economy 15.02.23 | 15:08

MKD 50,799 were needed for minimum monthly expenses in January

A family of four in January needed MKD 50,799 for minimum monthly expenses, according to the calculations of the Federation of Trade Unions of Macedonia. According to the data on the union consumption basket published today, the most money, or 19,206 denars is spent on food and drinks, and 13,313 denars...
Economy 13.02.23 | 14:48

New fuel prices as of midnight

As of Monday midnight, gasoline prices are set to drop by MKD 0.5 per liter, and the diesel price will increase by MKD 0.5 per liter the Energy Regulatory Commission decided today. As of midnight the prices will be: EUROSUPER BS-95 – 81.50 (denars/liter) EUROSUPER BS -98 – 83.50 (denars/liter) EURODIESEL...
Economy 13.02.23 | 12:10

Do not open messages from PRO, they are fake

The Public Revenue Office (PRO) informs that yesterday and today an unknown sender, using its logo, tried to induce citizens to share personal and debit and credit card data through SMS messages. The messages are sent from the phone number +389 79 212 628 with the following content: “Execute the...
Economy 10.02.23 | 14:51

Preferential electricity price to be abolished for businesses not lowering product prices

Companies from the food industry that are receiving a preferential electricity price but have failed to lower the prices of their products in line with the Government agreement will lose this benefit, said Minister of Economy Kreshnik Bekteshi on Friday. On a daily basis, we speak with chambers of commerce...
Economy 08.02.23 | 15:49

Diesel price drops, gasoline remains unchanged

As of Wednesday midnight, the price of diesel is set to drop by MKD 2 to 2.5 per liter, while the gasoline prices remain unchanged, according to a decision by the Energy Regulatory Commission. As of midnight the prices will be: EUROSUPER BS-95 – 82.00 (denars/liter) EUROSUPER BS -98 – 84.00 (denars/liter) EURODIESEL...
Economy 06.02.23 | 15:41

Fuel prices slightly down

As of Monday midnight, fuel prices go down by MKD 1,5-2 per liter, said the Energy Regulatory Commission. As of midnight the prices will be: EUROSUPER BS-95 – 82.00 (denars/liter) EUROSUPER BS -98 – 84.00 (denars/liter) EURODIESEL BS (D-E V) – 78.50 (denars/liter) Extra light household oil (EL-1)...
Economy 06.02.23 | 10:01

Kovacevski and Ahmeti’s connection with Russian tycoon Alexander Lebedev is behind the expensive Bulgarian gas

Snezana Lupevska’s KOD show reveals that the government of Kovacevski and Ahmeti buys more expensive Russian gas from a company whose owner is under the sanctions of two NATO countries. After the scandal with the Russian spy Onishchenko, the selection of the Croatian firm to oversee the highway...
Economy 05.02.23 | 20:02

Bytyqi: Region’s first public service AI-based digital assistant to be launched soon

Deputy PM for Economic Affairs Fatmir Bytyqi said that the first artificial intelligence-based digital assistant Ada will be launched soon, through which companies will be able to receive detailed information about the conditions for investing in our country and the state aid. Transparency, which will...
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