Category: Economy
Economy 12:43

DUI mayor wins another public contract worth 100.000 EUR

Pucko Petrol, an oil distribution company owned by DUI party official Ismail Jahoski, won another public contract to supply oil to a government institution. In the latest case, the politically tied company will cash in 5.9 million denars (100.000 EUR) to supply gasoline to the M-NAV air traffic control...
Economy 12:39

One of Zaev’s richest ministers rudely rebuffs seller who complains about new fees, regulation

One of the richest men in Zaev’s Government, Economy Minister Kreshnik Bekteshi, rudely told off a farmers market seller who complained that she and her colleagues are poor and can’t afford the new fees and regulation imposed on them. Please don’t manipulate us. We are poor, the woman...
Economy 11:34

Mickoski: Zaev prepares to cut retirement incomes

VMRO-DPMNE leader Hristijan Mickoski warned retirees that they can expect to see real life cuts to their incomes as the Zaev Government moved to reduce the rate of increase. There has been no increase in retirement incomes in the two years they’ve been in power, and now the Zoran Zaev Government...
Economy 23:57

Green Market protesters tell Zaev they will punish him in the elections

We will vote for Mickoski, said shopkeepers who protested in front of the Parliament today, after the Zoran Zaev led Government introduced new fees for simply selling fruit and vegetables at the farmers markets. Protesters called on Zaev to “come to his senses” or expect them to support the...
Economy 12:26

Protest at one of Skopje’s largest markets

The Green Market, one of the largest farmers markers in Skopje, was closed today due to a protest against the new law introducing additional costs for operating in the market, as well as banning retirees from working there. We already pay 20.000 denars in taxes every year in order to able to work here....
Economy 09:19

After “Project Fear” Zaev now promises “giant investments” if name change deal is approved

After threatening Macedonians with war if the deal with Greece is not approved in Parliament, is Zoran Zaev now trying to gain public support for the so-called Prespa treaty by promising major new investments. All indicators show that 2019 will be the year of economic growth. If we catch the EU and NATO...
Economy 17:22

World Bank pours cold water on Zaev’s economic growth hopes

The latest World Bank report on “Global Economic Perspectives” finds that Macedonia will fall far short of the rosy growth expectations pushed forward by Prime Minister Zoran Zaev, who said that we’ll grow by 5 percent, “God willing”. But, according to the WB report, Macedonia...
Economy 21:18

Government plans to make insurance for foreign travel mandatory for all vehicles

Motorists in Macedonia will be hit by a significant new fee as the Government announced that it will make purchasing insurance for foreign countries mandatory for all drivers. The so-called green card costs between 60 and 90 EUR for the year. Vehicles without it are not allowed to leave the country,...
Economy 00:16

Rosy press conference on the economy from Zaev in front of skeptical journalists

Prime Minister Zoran Zaev made a long list of promises on Thursday, after largely failing to gain traction on the economic promises of his election campaign. Regarding his promise of increasing the average salary to 500 EUR, Zaev said that it will happen, but by the end of his term in office. Meanwhile...
Economy 00:06

Zaev: The reintroduction of progressive taxation is mostly a symbolic measure

Prime Minister Zoran Zaev tried to reassure the business community over the latest tax hikes, saying that the reintroduction of progressive taxation, after a decade of economic growth under a low and flat tax regime, is mostly a symbolic measure. In a press conference alongside Finance Minister Dragan...
Economy 12:33

Zaev says the economy will pick up – once we reach 2005

After a disappointing economic year and the gaffe promising that the economy will pick up in the “third half” of 2018, Prime Minister Zoran Zaev made another promise that things are about to brighten up – in 2005. I expect the growth rate to reach 4 percent in 2019. Our ultimate goal...
Economy 22:14

New Year marks end of the decade of low, flat taxes and relaxed business regulations

With the New Year, Macedonians will have to handle higher taxes and a more complicated business regulatory regime. The decade long era of low flat taxes is over. Several new income tax rates of 15 and 18 percent will apply to capital and rental gains and to higher income earners. Additionally, the retirement...
Economy 21:47

Mickoski: 2018 was bad for the economy and 2019 will be even worse

VMRO-DPMNE leader Hristijan Mickoski describe 2018 as disastrous for the Macedonian economy, and the country dropped to the bottom of economic growth in Europe, after being among best growth performers for a long time. Mickoski said that 2019 is bound to be even worse, because that is when the new tariffs...
Economy 21:14

Macedonia drops five more places in the Forbes “best for business” list, is now among the least investment friendly countries in the region

Macedonia dropped five more seats in the Forbes list of countries with the best business enviroment. The large drop caused by the tax and regulatory increases announced by the SDSM led Government came last year, when Macedonia fell whopping 28 places, from 35 to 63 in the world. Now, as the plans to...
Economy 15:01

SDSM and DUI want to double the number of managers of public companies

SDSM and DUI are proposing a new major expansion of public sector management, under which every public institution must have a deputy manager. The proposal was made jointly by Aleksandar Kiracovski and Blagoja Trpevski from SDSM and Rexhep Ismaili from DUI. These two ruling parties often divide the management...
Economy 15:19

Zaev unable to name three infrastructure investment projects he began in his year and half as Prime Minister

During a TV interview on Tuesday, Prime Minister Zoran Zaev was unable to name a single infrastructure invesment started during his now year and a half in office. Pressed by journalist Fatmir Aliu, Zaev quickly named the Skopje – Blace highway, which will connect Macedonia to Kosovo and is high...
Economy 22:35

Government adds 30 million EUR to the national debt

While foreign direct investments have become a thing of the past, the Government keeps adding to the national debt. Additional 30 million EUR were added to the debt with the bond auction held on Tuesday, even though a cool half a billion was the amount of the Euro denominated bond issued only at the...
Economy 12:04

Angusev tries to downplay impact of EU steel tariffs

Deputy Prime Minister Koco Angusev sought to downplay the hit Macedonian steel industry will endure under the European Union imposed tariffs, which will slap 25 percent to the cost of the exports. Angusev dismissed criticism from VMRO-DPMNE Vice-President Aleksandar Nikoloski, who said that for all the...
Economy 20:52

Nikoloski: SDSM inability to keep European markets open spells doom for Macedonian steel producers

VMRO-DPMNE deputy leader Aleksandar Nikoloski called on the Government to take immediate measures to secure once more the free export of Macedonian steel to the European market, after the European Union refused to make an exemption for Macedonia nad slapped a 25 percent tariff on steel and aluminium...
Economy 20:41

SDSM ignores warnings from the private sector, re-introduces higher, progressive taxation

SDSM and its ruling majority in Parliament overruled complaints from the private sector and on Monday adopted the law which re-introduces higher, progressive taxation beginning with January 1st 2019. While the 10 percent rate remains in place for smaller companies and lower income earners, a new, 18...
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