Category: Economy
Economy 15.09.20 | 11:23

Fund starts reimbursing Eurostandard Bank depositors

The Deposit Insurance Fund is starting Tuesday to reimburse depositors of Eurostandard Bank. The maximum insured amount, defined by law, is 1.850.889 denars (EUR 30,000). The reimbursement process will take place through Komercijalna Banka, NLB Banka, Stopanska Banka AD Skopje and Halkbank. Depositors...
Economy 14.09.20 | 14:40

Gasoline, diesel prices slightly down

As of Monday midnight, gasoline and diesel prices drop by MKD 1-1.5, the Energy Regulatory Commission has said. The price of EUROSUPER BS 95 is MKD 58.5 per liter, that of EUROSUPER BS 98 is MKD 60.5 per liter, EURODIESEL (D-E V) – MKD 49 per liter and extra light household fuel is at MKD 49 per liter. The...
Economy 13.09.20 | 12:42

The expensive electricity brought by Bislimovski brings money to Zaev, and poverty to the people

The expensive electricity brought by Bislimovski brings Zaev money, new motorcycles, Maybach vehicles and amenities, and poverty to the people, VMRO-DPMNE said in a press release on Sunday. The party says that tPrime Minister Zoran Zaev appointed Beslimovski to increase the electricity, and to give Kovacevski...
Economy 11.09.20 | 09:45

Retirement at 64 to be compulsory

We will make a decision on compulsory retirement at 64 years of age for men while women can opt to retire at 62, says Prime Minister Zoran Zaev. PM Zaev told editors and journalists during a Q&A session on the Macedonian Television that years of experience can be bought before the age of 64 or 62,...
Economy 10.09.20 | 19:57

Janusev: 6.2 million euros state tender for financier of SDSM, tomorrow protest in front of Regulatory Commission

Twenty hours after the protest against the increase in electricity prices, where citizens demanded cheaper electricity, professionalization of the regulatory commission and the resignation of party installations in the commission headed by President Marko Beslimoski, there is absolute silence from the...
Economy 10.09.20 | 15:06

Chambers of Commerce demands state aid for businesses to survive

Work protocols for every branch without exception, allowing faster border flow and keeping the existing contracts or concluding new ones for the export-oriented companies and more comprehensive financial support under the coming fourth package of economic measures are some of the demands of the Macedonian...
Economy 10.09.20 | 15:01

Finance Minister Besimi, IMF officials discuss COVID-19 crisis, economic growth in online meeting

Finance Minister Fatmir Besimi in his first online meeting with IMF Mission Chief to Macedonia, Bergljot Bjornson Barkbu and IMF Resident Representative of the Western Balkans, Stephanie Eble discussed the COVID-19 crisis and its impact on the Macedonian economy. Talks also focused on the series of measures...
Economy 10.09.20 | 10:24

Compensation of ‘Eurostandard Bank’ deposits to start on September 15

The Fund for Deposit Insurance said Wednesday the compensation of deposits for clients of the now defunct Eurostandard Bank in the amount of up to Mden 1,85 million (EUR 30,000) will start on September 15. The payment will be carried out by four commercial banks: Komercijalna Banka, NLB Banka, Stopanska...
Economy 07.09.20 | 14:44

Gasoline, diesel prices slightly down

As of Monday midnight, gasoline and diesel prices drop by MKD 0.5-1.5, the Energy Regulatory Commission has said. The price of EUROSUPER BS 95 is MKD 59.5 per liter, that of EUROSUPER BS 98 is MKD 61.5 per liter, EURODIESEL (D-E V) – MKD 50.5 per liter and extra light household fuel is at MKD 50.5...
Economy 07.09.20 | 14:22

Historic drop: Export down 32%, GDP sees a 12.7 % decrease

The growth rate of Macedonia’s Gross Domestic Product (GDP) in the second quarter of 2020 was -12.7%, State Statistical Office data shows. In this quarter, increase was recorded in sections: Agriculture, forestry and fishing by 4.5 %; Public administration and defence; Compulsory social security; Education;...
Economy 06.09.20 | 23:06

Former SDSM official Jovanovski blasts the incompetence of recently removed Finance Minister Nina Angelovska

Former high ranked SDSM official Zoran Jovanovski made a scathing comment at the candidate nominated by his own party as Finance Minister – Nina Angelovska who held the office until recently. The youthful e-entrepreneur Angelovska held the office until she was replaced by Fatmir Besimi from DUI...
Macedonia Economy 06.09.20 | 11:46

Besimi insists there is enough money to service debt payments throughout the year

Newly appointed Finance Minister Fatmir Besimi assured the public that there is enough money in the budget to cover the debt payment, the deficit and unexpected additional costs of the coronavirs epidemic. Besimi said that the budget will be able to pay out the loans that are maturing throughout the...
Macedonia Economy 06.09.20 | 11:42

VMRO: SDSM has no plan on how to tackle the economic crisis

SDSM and their Government have no idea how to create a growing economy, said VMRO-DPMNE in a press release. The opposition party pointed to the fact that the number of unemployed grew by 40,000 and the foreign direct investments have turned negative, and said that there is no indication that the Government...
Economy 03.09.20 | 17:07

Union representing 2,300 postal workers sounds the alarm after the Eurostandard Bank collapse

The union of the Macedonian Post Office is demanding an urgent meeting with Prime Minister Zoran Zaev, as 2,300 employees face to be left without pay or even fired. The post office heavily relies on the now bankrupt Eurostandard Bank, which had an exclusive contract to use the postal network for cash...
Economy 02.09.20 | 09:05

Banks consider a second grace period for debtors hit by the coronavirus crisis

As many companies are set to begin repaying their loans in October, the NBRM Central Bank proposed that commercial banks allow another extension until March 2021 for companies and individuals who are in difficult position because of the coronavirus epidemic. With the onset of the coronavirus, banks were...
Economy 01.09.20 | 10:55

VMRO: Zaev’s new Government concedes there will be no new major foreign investments

Following the rare negative result in direct foreign investments inflow (or outflows in this case) in the second quarter of 2020, VMRO-DPMNE said that there is no hope for greater FDI investments from the next Zaev led Government, given that it doesn’t include a single foreign investment member. The...
Economy 31.08.20 | 21:12

Government plans to introduce mandatory retirement at 62/64 years

The Government plans to propose a new law that would force all citizens over 64 or 62 to retire. Currently the law allows people to protract the retirement, but under the new law it would be mandatory for all employees except for the medical staff and highly educated professionals. Zoran Zaev said that...
Economy 31.08.20 | 20:23

Industrial production down 9.5 percent in July – mining is down by more than a third

Industrial production dropped by 9.5 percent in July compared to July 2019, the Statistics Bureau informed today. Considering the first seven months of the year, the industrial production is down 3.8 percent compared to the same period last year. The drop was most noticeable in mining and quarrying –...
Economy 30.08.20 | 10:43

Real estate report: Drop in sales, rise in number of apartments under mortgages

Real-estate statistics published today show a drop in sales and leases, caused by the coronavirus epidemic and the associated economic downturn. The number of sales of real-estate units in the second quarter of the year dropped by about a sixth, while in the rental sector, the decrease was far greater...
Economy 29.08.20 | 09:31

Protests in Tetovo and Gostivar against the energy price hike

Hundreds of citizens of Tetovo and Gostivar protested yesterday afternoon against the planned energy price hike of 7.4 percent. The price hike was timed for shortly after the elections, while the ruling parties SDSM and DUI campaigned on a modest energy subsidy they introduced earlier and on the promise...
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