Category: Economy
Economy 26.06.19 | 19:29

We will raise pensions by MKD 1000, and we will see if we will go bankrupt or not

Prime Minister Zoran Zaev in a debate in the Parliament announced part of the decisions in the economy that he announced in the upcoming period. The first point is a freeze of contributions in the country for all workers, substitution of 90 percent for each increase in salaries in terms of contributions....
Economy 26.06.19 | 12:31

Macedonia’s public debt inches closer to 50 percent of GDP

The public debt of the Republic of Macedonia grew to 48.5 percent of its gross domestic product in 2018, or a total amount of 5.2 billion EUR. This represents an increase from 46.7 percent of GDP, where the debt was in 2017. The central Government debt amounted to 4.344 billion EUR, or 40.5 percent of...
Economy 25.06.19 | 23:21

While farmers are dumping their harvests in protest, the Agriculture Ministry throws a lavish cocktail

At a time when farmers across the country are protesting against low prices and are dumping their fruits and vegetables, the Agriculture Ministry threw a rich cocktail to welcome its new minister. Trajan Dimkovski was promoted after Ljupco Nikoloski left the post to become Secretary General of his SDSM...
Economy 25.06.19 | 22:40

Economy Ministry will re-examine the permit it gave to the large Ilovica copper mine

The Government announced today that it is tasking the Economy Ministry to re-examine the legal basis under which the Canadian Euromax Resources company was awarded a licence to operate the large Ilovica copper and gold mine near Strumica. According to the press release, if legal defects are uncovered,...
Economy 25.06.19 | 13:42

Volkswagen does not think we are shining – the German giant disqualifies Macedonia

Volkswagen’s management disqualifies Serbia and Macedonia and will soon decide whether to invest about 2 million euros in Turkey or Bulgaria. Volkswagen named Turkey and Bulgaria as finalists for the location of the new car factory. At the beginning of the year, the German automotive giant announced...
Economy 22.06.19 | 20:20

Consumers confused over the promised value added tax reimbursement

Initial reactions following the promised reimbursement of 15 percent of the 18 percent value added tax are that the process will be difficult and the results will be low to none. Instead of simply lowering the VAT tax rate, the Zaev Government initiated the process of reimbursement, which will involve...
Economy 21.06.19 | 14:25

Average monthly salary reaches 406 EUR

The average net salary in Macedonia rose 3.5 percent to 24.785 denars (406) EUR, the State Statistics Bureau informed. Pre-tax, gross salaries also increased, by 4.8 percent, to an average of 36.796 denars (603 EUR). The increase was concentrated in areas such as healthcare, transportation and warehousing,...
Economy 20.06.19 | 15:06

Minister Carovska claims that she stabilized the retirement system

Labour and Welfare Minister Mila Carovska made a claim today that the state run retirement fund PIOM is stabilized after the tax increases the Parliament introduced, and that for the first time in a long while, retirement payments are being made without borrowing. The measures we undertook to stabilize...
Economy 19.06.19 | 15:17

Mickoski warns that the budget revenue shortfall will reach 82 million EUR by the end of the year

VMRO-DPMNE leader Hristijan Mickoski warns Finance Minister Dragan Tevdovski that he’s failing to meet the budget revenue projections by 2.4 percent, endangering the budget. If this trend continues, we are looking at a gap of 82 million EUR. This would be a huge number for any country in the region,...
Economy 18.06.19 | 11:18

VMRO-DPMNE warns about the worsening economic data, says they’re caused by the Government’s anti-business policies

A week after warning about the large gap in tax inflows, VMRO-DPMNE leader Hristijan Mickoski disclosed additional details about the problems faced by the UJP revenue service and said that they are emblematic of the wrongheaded economic policies of high taxation and regulation pursued by Zaev’s...
Economy 15.06.19 | 15:15

Fitch returns Macedonia’s credit rating to the pre-crisis level of BB+

The Fitch ratings agency elevated the Macedonian credit rating to BB+, from BB. With this, the rating returns to the pre-crisis level in 2015, when it was lowered due to the political crisis sparked by the SDSM party. Finance Minister Dragan Tevdovski said that the improvement of the rating reflects...
Economy 14.06.19 | 15:18

BESA blames Zaev for lack of investments in the majority Albanian parts of Macedonia

The opposition ethnic Albanian party BESA condemns the Zaev Government through a press release, claiming that Albanian parts of Macedonia have received no major investments during his term, either from public or from private sources. Zaev’s Government recently shared a video with its infrastructural...
Economy 14.06.19 | 11:30

Rosoman farmers filmed throwing their peaches away in protests against lack of markets

Farmers from Rosoman, which is the main peach growing region in Macedonia, are throwing their produce away in protest after the low prices. Signal.mk aired a video showing a truck of peaches being thrown along the side of the road, as farmers complain about the Zaev Government and its failure to help...
Economy 09.06.19 | 12:05

VMRO: Zaev lied when he promised he’ll reopen the OHIS plant

VMRO-DPMNE released a video reminding Zoran Zaev of his promise that the large state owned OHIS chemical plant in Skopje will be re-opened. In 2017, Zaev personally promised that OHIS will resume work. He repeated his promise in 2018. It was all for nothing. OHIS remains closed. And this year, Zaev’s...
Economy 07.06.19 | 17:33

Zaev claims credit after GDP growth hits 4.1 percent

Zoran Zaev raced to claim credit today after statistics showed a BDP growth of 4.1 percent in the first quarter of the year. We expect growth to increase given the negative rates of growth in 2017. This dismisses the claims made by VMRO-DPMNE that there is now economic progress. What more should I do,...
Economy 06.06.19 | 19:34

Slaveski: EC report reveals the Government’s economic failures

The European Commission progress report on Macedonia reveals that there is practically no progress in the economy, said VMRO-DPMNE official Trajko Slaveski. The Commission finds almost negligible progress in the two economic criteria – a functional market economy and ability to face competing pressures...
Economy 06.06.19 | 17:55

Zaev’s own economic adviser dismisses his idea that NATO membership will lead to higher wages

Professor Vanco Uzunov, one of Zoran Zaev’s economics advisers, noted that NATO membership by itself won’t do much for the Macedonian economy. Salaries won’t rise on their own. It will take a lot of work, uzunov said. One of the main selling points Zaev is employing to promote the humiliating...
Economy 05.06.19 | 11:00

At long last: the Skopje – Stip highway is open for business

One of the first orders of business for the Zaev Government, after it was brought to power in 2017, was to stop work on two of the three major highways being built by the Nikola Gruevski Government. The Skopje – Stip and Kicevo – Ohrid highways, built in cooperation with a Chinese investor,...
Economy 31.05.19 | 19:28

Mickoski and Angusev spar over the disastrous foreign investment inflows

After Zaev’s point man on the economy, Deputy Prime Minister Koco Angusev, tried to put a positive spin on the disastrously poor FDI results in teh first quarter of 2019, VMRO-DPMNE President Hristijan Mickoski responded to Angusev’s numbers, but also to his insults hurled toward the opposition...
Economy 31.05.19 | 18:43

Angusev tries to put a positive spin on the disastrous Q1 foreign investment figures

After the disastrously low foreign direct investment inflows in the beginning of the year (21.6 million EUR in the first quarter as reported by the Central Bank), Deputy Prime Minister Koco Angusev held an urgent press conference in an attempt to spin the numbers. Instead of talking about the investment...
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