Category: Economy
Economy 03.03.21 | 21:15

Mucunski: While the government deals with Byzantine games, Macedonia’s debt grows for another 700 million euros

VMRO-DPMNE MP, Timco Mucunski told Sitel TV said that today for five hours in the Parliament, Prime Minister Zaev dealt with Byzantine games instead of the problems of the citizens. Today in the Parliament we witnessed four five-hour Byzantine games at which in the end Prime Minister Zaev proved that...

Economy 03.03.21 | 20:32

Macedonia issues the eighth Eurobond worth 700 million euros

Republic of Macedonia issued Wednesday the eighth Eurobond worth EUR 700 million with a maturity period of seven years and the lowest interest rate on record, 1.625 percent. The Eurobond will be used to refinance the third Eurobond, issued in 2014, worth EUR 500 million. The net-withdrawal by way of...

Macedonia Economy 03.03.21 | 09:33

2020 GDP drop slowed down in the last quarter, estimated at 4.5 percent for the whole year

Macedonian GDP dropped 4.5 percent for 2020, the State Statistics Bureau informed. The drop slowed down to 0.7 percent in the last quarter of the year, after the free-fall in the middle of the year. Worst hit was manufacturing, which declined by 10.6 percent in the last quarter. Opposite that, real-estate...

Macedonia Economy 02.03.21 | 18:51

Ruling majority in Parliament is unable to deliver aid to the badly hit tobacco farmers

The ruling majority’s inability to convene the Parliament, due to its very narrow cushion of votes, is badly affecting the tobacco farmers. This agricultural branch was crushed by exceptionally low prices this season, and the opposition parties have proposed changes to the law on growing tobacco...

Economy 02.03.21 | 13:16

Confirmed: Lidl to open its first store in Macedonia

Following its entry into Slovenia, Croatia and Serbia, German discounter Lidl is set to open its first store in Macedonia, Dublin-based publication European Supermarket Magazine (ESM) has reported. According to ESM, the German company last month registered its subsidiary in the country under the name...

Macedonia Economy 28.02.21 | 23:07

Post Office resumes its financial services

Branches of the Macedonian Post Office will resume handling financial transactions on Monday. The Post Office stopped accepting or issuing all payments after the collapse of its partner, the Eurostandard Bank, in August. This left tens of thousands of citizens, particularly in the small towns and villages,...

Macedonia Economy 28.02.21 | 17:19

ZMAI: 6,783 jobs were lost in the textile industry in 2020

The ZMAI analytical center reports that only the textile sector in Macedonia lost 6,783 jobs in 2020, during the coronavirus pandemic. The industry employs over 30,000 people across Macedonia, mostly workers who have difficulty getting other, more skilled and better paying jobs. ZMAI informs that 15...

Macedonia Economy 27.02.21 | 18:43

Nikoloski: Central Bank ban on dividend payments indicates that Macedonia is moving toward bankruptcy

The Central Bank order to commercial banks and insurance companies not to pay dividend to their shareholders indicates that the country is in serious financial trouble and faces bankruptcy, said VMRO-DPMNE Vice President Aleksandar Nikoloski. The unprecedented order came on Friday and shocked the financial...

Macedonia Economy 27.02.21 | 10:33

Stock market hit by Central Bank ban on payment of dividends by commercial banks

Shares of all major banks dipped in the Macedonian stock exchange yesterday after the Central Bank (NBRM) ordered them not to pay out dividends to their shareholders. The Central Bank explained this order, which also applies to insurance companies, with the need to preserve their liquidity in light of...

Economy 25.02.21 | 17:12

More than half of the electricity consumed in December came from domestic production

According to the data of the State Statistical Office, in December 2020, the total consumption by types of energy commodities was: 859 827 MWh of electricity, 46.263 mil. nm3 of natural gas, 468 414 tonnes of coal and 92 211 tonnes of petroleum products. Gross national electricity production participated...

Macedonia Economy 25.02.21 | 10:22

Minister Besimi is asking for EU funds for the railway link to Bulgaria

Finance Minister Fatmir Besimi met with the EU Enlargement Commissioner Oliver Varhelyi in Brussels to discuss EU funding for infrastructure projects. One of them, Besimi said after the meeting, is the planned railway line between Kriva Palanka and Deve Bair. This would be the final stretch of the long...

Macedonia Economy 19.02.21 | 17:53

Zaev announces the sale of state owned land and tripling of taxes on unused property

Prime Minister Zoran Zaev announced that taxes on property that is not being used will be increased three times their current rate, and that a new law will make it easier to purchase state owned land. Zaev said that the new tax rate will begin to be applied to state owned property, to motivate the public...

Macedonia Economy 18.02.21 | 17:20

Mickoski: Macedonia’s economic stimulus package is among the smallest in the region

Macedonia has offered the least financial aid to its struggling companies in the region, said VMRO-DPMNE President Hristijan Mickoski during after his meeting with the leadership of the chamber of commerce representing companies in the north-west of the country. Macedonia is among the three countries...

Economy 17.02.21 | 10:03

“Lidl” registers company in Macedonia, it will be run by Bulgarians

The German supermarket chain “Lidl” has registered its company in Macedonia, and will be managed by its Bulgarian branch. One of the largest retail companies in the world on Friday registered its subsidiary in Skopje Center and with a cash investment of 500,000 euros, the Central Registry...

Macedonia Economy 16.02.21 | 19:16

Government adopts a new economic stimulus package

The Zaev Government adopted today an economic stimulus package that will be used to continue to prop up salaries in businesses that are hit hard by the recession. The package, a fifth of its type since the epidemic began, will amount to 159 million EUR. According to the Government press release, its...

Economy 16.02.21 | 14:49

Mickoski: The fifth set of economic measures is undeveloped and will not meet the needs of the economy and citizens

Nowhere did I see intensive realization of capital investments, which is the basis for economic growth in a country. It is not seen where roads, hospitals will be built, where investments will be made in theaters, cultural institutions and kindergartens, said Tuesday the leader of VMRO-DPMNE Hristijan...

Macedonia Economy 15.02.21 | 19:50

VMRO proposes changes to the tobacco law after the industry was hit by a disastrous year

The VMRO-DPMNE group in Parliament proposed urgent changes to the law on tobacco cultivation, after farmers face drastically lower prices compared to last year. The average price of 160 denars per kilogram is 60 denars below the price received last year. In reality, most farmers don’t even receive...

Economy 15.02.21 | 11:52

January Consumer Price Index and Retail Price Index upped

According to the State Statistical Office data, the Consumer Price Index in January 2021, in comparison with January 2020, increased by 1.9%, while Retail Price Index increased by 1.6%. A decrease in the Consumer Price index in January 2021, in comparison with the previous month, was registered in fresh...

Economy 12.02.21 | 18:44

In December there were much fewer foreign, but more domestic tourists compared to December 2019

According to the data of the State Statistical Office, the number of tourists in December 2020 was 31 175, and the number of nights spent by tourists was 60 345. The number of tourists in December 2020, compared to December 2019, decreased by 49.3%, and the number of nights spent decreased by 49.5%. The...

Economy 12.02.21 | 17:57

Industrial turnover in 2020 down 7.8% compared to the previous year

Industrial turnover in December 2020 increased by 7.9% compared to the same month in 2019, but decreased by 11.9% compared to November 2020. In the period January-December 2020, industrial turnover was down 7.8% compared to the previous year, State Statistical Office data shows. The total turnover by...

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