Category: Economy
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...
Economy 27.02.23 | 16:41

Inflation decimated the salary increases, real salaries are going down

Claims from the SDSM party that their policies managed to increase the average salary in Macedonia to over 550 EUR are hollow, since any salary increase is eaten away by inflation, said VMRO-DPMNE in a statement. The disastrous economic policies by SDS brought about a huge increase in poverty and record...
Economy 27.02.23 | 15:37

Gas prices go down slightly

The RKE energy commission announced a slight decrease in the price of gas. Unleaded blend BS-98 and diesel go down by 1 denar per liter and the BS-95 will go down by half a denar. Their new prices are 83.5, 76 and 81.5 denars, respectively.
Economy 27.02.23 | 14:30

Industrial bakers threaten to stop production if the Government limits the bread prices to 30 denars per loaf

Bakeries in Macedonia are threatening to stop production after the Government warned that it will limit the prices at which they can sell bread. The Government is angry that some food producers took subsidies for the extremely high electricity prices they were sent, but didn’t respond by reducing...
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...
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