Category: Economy
Macedonia Economy 07.01.21 | 19:32

Flour mills say they will hike the price of bread by up to 30 percent

The association of mills and bread bakeries GMPI warned that it will increase the price of bread, after a longer period of frozen prices. Goran Malisic from GMPI said that the companies he represents are hit by reduced demand at home and increased prices on some of the raw materials abroad. “We also...
Macedonia Economy 05.01.21 | 23:02

World Bank sees Macedonia growing by 3.6 percent in 2020

The World Bank released its latest forecast, which sees Macedonia growing by just 3.6 percent in 2021 and 3.5 percent in 2020. It’s a middling forecast compared to the rest of the region. Montenegro is predicted to grow by 6.1 percent and Albania and Croatia by 5.4 and 5.1 percent respectively....
Macedonia Economy 05.01.21 | 17:33

Mickoski: Macedonia is moving deeper into deficits and recession

Zoran Zaev claims that the Macedonian economy is alive and kicking, but in reality the country is moving deeper into recession, said opposition leader Hristijan Mickoski in a social media comment. True, the entire world is suffering the consequences of the coronavirus epidemic, but Macedonia is suffering...
Economy 05.01.21 | 13:10

The “Ilovica” mine was bought by a company with dubious capital, Zaev is silent about all that

The Vice President of VMRO-DPMNE, Aleksandar Nikoloski talked in an interview with Radio Lider about the whole situation in the country and said that if Prime Minister Zoran Zaev is so sure he will win the elections he should resign and hold elections in 45 days and see what the results will be. The...
Economy 05.01.21 | 09:34

The companies that Zaev personally knows to “show solidarity” and return the money to the victims of the Eurostandard “fire”

The Association of damaged depositors from Eurostandard Bank welcomes the initiative of Prime Minister Zoran Zaev to help the store owners of the charred part of the “Global” shopping mall, but remind that the “fire” that occurred in Eurostandard Bank was a thousand times bigger...
Macedonia Economy 04.01.21 | 21:39

Company confirms that the Ilovica copper mine is being developed through a company with ties to Bulgaria

The management of Euromax Resourced LTD, which is operating the large proposed Ilovica copper and gold mine, confirmed that the company is being taken over by a Bulgarian company that operates from the Cayman islands. Euromax insisted that this company called Galena is part of the Singaporean Trafigura...
Macedonia Economy 03.01.21 | 10:17

SDSM again calls for marijuana legalization, paints it as the main plank of its economic program

In a press release, the ruling SDSM party again pointed to its leader’s pet project – marijuana legalization – as the corner stone of its economic policy. In accordance with international and European standards that we implement at home we are advancing the production of medicinal cannabis...
Macedonia Economy 02.01.21 | 21:12

Tax authority warns companies that received stimulus funds but haven’t paid their workers yet

The UJP tax authority called out the companies that have collected stimulus funds but have not paid out the salary to their employees for November, warning them they have a week to do so. UJP director Sanja Lukarevska said that the number of these companies has dropped in the past few days, but that...
Macedonia Economy 02.01.21 | 13:46

Both credits and deposits grew in 2020

Credits issued in 2020 rose by 5.4 percent by November, compared to the same period last year. The whole credit mass in Macedonia now stands at 5.7 billion EUR, said Maja Stevkova – Sterieva from the Macedonian Banking Association. Household deposits also grew by 8.3 percent to nearly 7 billion,...
Macedonia Economy 02.01.21 | 12:00

New hospitality tax rule is causing chaos, chamber warns

The NUK chamber of the hospitality industry said that the tax reduction introduced by the Government is too complicated and badly managed to be effective. The Government ordered a new value added tax bracket of 10 percent, besides the 5 and 18 percent brackets, that will apply to restaurants that serve...
Economy 31.12.20 | 18:08

National Bank Governor: Hope we’ll win battle against pandemic, wise and virtuous decisions if it’s to last longer

We’re leaving behind a year of constant daily challenges both personally and professionally. We’ve faced a long-unseen crisis, in which we were all required to take care of people’s health first all the while making swift decisions to support well-being in these difficult circumstances,...
Economy 31.12.20 | 17:06

Number of workers in industry drops by 4.7%

The number of workers in the industry in November dropped by 4.2% compared to the same month in 2019. A drop of 4.7% is also recorded between January and November in comparison with the same period last year. The number of employees in industry in the section Mining and quarrying in November 2020, in...
Macedonia Economy 31.12.20 | 10:31

Rock bottom: Industrial production down another 4 points

Industrial production in November is down 4 percent compared to November 2019. This brought the overall industrial decline for the first ten months of the year to 10.6 percent, the Statistics Bureau informed. The number of employees in manufacturing and other industrial branches also dropped by 4.2 percent,...
Economy 30.12.20 | 23:11

Macedonia lifts ban on UK flights

At Wednesday’s 36th session, the Government of Macedonia decided to lift the ban on flights from Great Britain and Northern Ireland to Macedonia, which was valid until the end of 2020, as well as the mandatory 14-day self-isolation of passengers coming from these destinations.  
Economy 30.12.20 | 22:41

Nikoloski: Why didn’t the institutions investigate the origin of the capital of the company that bought the Ilovica mine

During Wednesday’s Parliament Q&A session, the Vice President of VMRO-DPMNE, Aleksandar Nikoloski, posed a direct question to the Prime Minister Zoran Zaev. Why didn’t the institutions under the authority of the Government investigate the origin of the capital of “Galena Resources...
Economy 30.12.20 | 20:01

Zaev plans cannabis not to be a luxury for the rich: Everyone will be able to grow 2-3 stems at home

During Wednesday’s Q&A session in Parliament, Prime Minister Zoran Zaev announced that the legalization of marijuana will not only mean a privilege for the rich, but also envisages that everyone can grow two or three stems at home. Our position on this issue is clear. This will not be a privilege...
Economy 30.12.20 | 19:43

Macedonia is NATO member and has no alternative to EU, but serious interest for Russia economic cooperation, says Zaev

This Government has proved its Euro-Atlantic commitment but serves the people’s interests first and foremost, said Prime Minister Zoran Zaev, answering the question of the MP of the Alliance of Albanians and Alternativa, Halil Snopce why Macedonia did not join the EU economic sanctions against...
Macedonia Economy 30.12.20 | 13:47

Zaev’s tenacity to push through the Makpetrol pipeline deal raises new questions

Gordana Dimitrieska Kocoska from VMRO-DPMNE warned that the deal the Zaev regime is pushing with the Makpetrol oil company, over Macedonia’s only gas pipeline, is clearly harmful to the country. Dimitrieska said that this was confirmed by reports from state officials charged with settling contracts...
Economy 29.12.20 | 23:29

Mickoski: Money for Makpetrol is money taken from the poor to give to an oligarch close to the government

During the Infomax interview,  VMRO-DPMNlE leader, Hristijan Mickoski, talked about the unscrupulous crimes of the government, as well as the one in the amount of 33 million euros that were given to Makpetrol. Mickoski emphasized that it was a  major deal between the government and Makpetrol, with...
Economy 28.12.20 | 19:25

Mickoski: Zaev’s government adopted a law that will allow them to pay 33 million euros to Makpetrol

The leader of VMRO-DPMNE, Hristijan Mickoski, reacted that the government of SDSM and Zoran Zaev adopted the harmful and in many ways criminal Makpetrol law, which will allow it to transfer as much as 33 million euros directly from the public treasury to the account of this company. From now on they...
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