Category: Economy
Economy 27.12.23 | 19:35

Wizz Air has decided to temporarily halt operations on the Skopje – Luxembourg and Skopje – Bologna routes

Wizz Air plans to reduce its overall network capacity from mid-January to mid-March due to widespread issues with Pratt & Whitney-manufactured engines. Consequently, they will temporarily suspend operations on two routes—Skopje to Luxembourg and Skopje to Bologna—during this two-month period,...
Economy 27.12.23 | 12:33

Basic food products and drinks with frozen prices until January 31

The prices of basic food products, water, non-carbonated and carbonated drinks and beer will remain frozen until January 31, the government decided. The decision was made at yesterday’s government session on the proposal of the Ministry of Economy and, as stated in the announcement, it is in the...
Economy 27.12.23 | 08:23

Development Bank to provide EUR 215 million in support to 855 domestic businesses

At a press conference on Tuesday to commemorate the Development Bank of North Macedonia’s 25th anniversary, Prime Minister Dimitar Kovachevski stated that the bank has enabled financial support of EUR 378,8 million for 6.307 companies and 50.529 jobs over the last five years through the implementation...
Economy 25.12.23 | 20:21

Fuel prices rise

The Energy Regulatory Commission announced that starting midnight on Monday, fuel prices are slated to increase by Mden 1-1.5. This decision by the ERC will bump up the retail cost of EUROSUPER BS-95 by Mden 1 per liter, while EUROSUPER BS-98, EURODIESEL, and extra light household oil will see a rise...
Economy 22.12.23 | 20:26

Fuel prices remain steady despite an increase in Mazut prices

From Friday midnight, the price of a kilogram of Mazut M-1 will increase by Mden 1,017, according to the Energy Regulatory Commission. The costs of EURODIESEL, extra light household oil, and fuels EUROSUPER BS-95 and BS-98 are all still the same. Mazut M-1 will now set you back Mden 41,937 per kilogram....
Economy 21.12.23 | 08:31

Bitola — Medzhitlija Road underwent a EUR 3.6 million renovation

The 12.7 km road linking Bitola and the Medzhitlija border, part of Corridor 10d, reopened after a 3.6 million euro renovation, emphasized by top government officials. Prime Minister Dimitar Kovachevski highlighted its significance in connecting with the southern neighbor through Corridor 10d. Transport...
Economy 20.12.23 | 19:20

ELEM workers will be given 20 to 30 thousand EUR to leave their jobs

Economy Minister Kresnik Bektesi announced that there will be layoffs at the ELEM/ESM energy company, including its major REK Bitola coal mine and power plant, that the Government wants to ultimately shut down as part of its green plans. REK Bitola generates the bulk of Macedonia’s energy. Bektesi...
Economy 20.12.23 | 15:46

National Bank: The current monetary policy, which is suitable given the state of the economy, keeps interest rates at 6.30%

The Operational Monetary Policy Committee of the National Bank has chosen to maintain the current interest rates amidst a notable deceleration in inflation and favorable conditions in the foreign exchange market. Despite these positives, lingering risks persist. In a released statement, the National...
Economy 19.12.23 | 20:11

In retrospect, just 43% of foreign investors in Macedonia would still do so

A recent survey conducted by the Economic Chamber Foreign Investors Council in Macedonia unveiled that only 43% of foreign investors would consider reinvesting in the country. The survey, known as the “2023 Business Investment Indicator,” highlighted low taxes and a favorable business environment...
Economy 18.12.23 | 17:35

These are the new fuel prices

The Energy Regulatory Commission made a decision on the new prices of petroleum products that will be valid from midnight. According to the decision, gasoline prices remain unchanged, and diesel fuel becomes cheaper by one denar. The price of extra-light household oil is cheaper by half a denar. These...
Economy 17.12.23 | 12:28

Guarantee given by the Greek investor in Cebren expires at the end of the year

The bank guarantee given by the Greek Archirodon company for the Cebren dam project in Macedonia will expire at the end of the year, Kanal 5 reports. This could endanger the large hydro project that is touted by the Kovacevski Government as a rare major foreign investment, that would reach a billion...
Economy 17.12.23 | 10:37

One of the three generators in Bitola is offline

The first of the three generators at the REK Bitola coal plant is offline, warns VMRO-DPMNE in a statement. The key energy generating capacity in Macedonia is suffering from years of neglect and corruption, which caused spikes in the energy prices. Not a day goes by without a serious defect in the plant....
Economy 13.12.23 | 17:23

Bytyqi: By the end of the year, a draft law reducing officials’ salary by 78% will require consensus

Deputy PM for Economic Affairs Fatmir Bytyqi mentioned that the proposed legal solution to prevent officials’ wage increases by March will be ready either next week or by the year’s end at the latest. This solution will then be presented to Parliament for consideration. Bytyqi emphasized...
Economy 12.12.23 | 19:54

Bulgaria lifts the Russian gas transit charge in an effort to advance the Schengen negotiations

The ruling majority in the Bulgarian parliament has come to an agreement to scrap the tax imposed on Russian gas passing through Bulgaria’s territory. This move, led by GERB leader Boyko Borissov, aims to support Bulgaria’s aspirations to join the Schengen Area. Kiril Petkov, from the party...
Economy 12.12.23 | 18:35

Bochvarski: Macedonia makes great strides in conforming to EU transportation law

The Ministerial Council of transport and infrastructure ministers from the Western Balkans, along with representatives from Moldova, Georgia, and Ukraine, converged in Skopje with a core focus on enhancing regional cooperation for a joint market and EU integration. Minister Bochvarski highlighted the...
Economy 11.12.23 | 16:21

Prices of gasoline decline by MDEN 2

The Energy Regulatory Commission (ERC) announced on Monday that the price of gasoline fuels will decrease by Mden 2 per liter starting at midnight on Monday. The new suggested retail price for EUROSUPER BS-95 is Mden 76.5 per liter; the price for EUROSUPER BS-98 is Mden 78.5; the price for EURODIESEL...
Economy 07.12.23 | 12:41

Marichikj: This is a critical moment in history, and we must take advantage of it

Deputy Prime Minister for European Affairs Bojan Marichikj anticipates the European Council’s recommendation for the second Intergovernmental Conference, a pivotal step in Macedonia’s EU accession. He emphasizes that the nation’s progress relies on adopting constitutional amendments....
Economy 07.12.23 | 12:13

From March, the government will not be allowed to build highways, schools and kindergartens, which it is not building anyway

The election campaign for the parliamentary elections should start on April 4. According to the recommendations of the OSCE and ODIHR, this means that twenty days before the start of the campaign, the ban on public events such as the commissioning of roads, schools, water pipes, kindergartens, which...
Economy 06.12.23 | 22:53

Penov: Raising municipal revenue to six percent through personal tax and value-added tax is a trend that needs to continue

Minister Risto Penov, speaking at the “Citizens First Shaping Future for Improved Local Services” conference, emphasized the positive trend in fiscal decentralization and the rise in municipal revenues. He highlighted the need to push forward with digitizing local services, aiming for increased...
Economy 05.12.23 | 11:21

Next summer, seasonal flights of the Polish airline “LOT” from Warsaw to Ohrid

According to LOT announcements, the new line from Radom Airport to St. Paul the Apostle Airport is scheduled to start on June 24 and it will fly once a week every Monday until September 23. Tickets for the new flight line are available for online booking. – the airline’s website. Radom Airport...
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