Tag: economy
Economy 18.04.23 | 13:20

It takes two centuries for the average Macedonian to make a million dollars

An average Macedonian needs two centuries to earn a million dollars, while an average Swiss does so in just 15 years, an estimate by Picodi.com shows. Macedonia is in a group with countries like Argentina, Albania, Turkey, and lags behind Croatia, Bulgaria, Serbia and Montenegro. The ranking includes...
Economy 14.04.23 | 18:23

IMF: Macedonia will have the lowest growth rate in the region in 2023

The International Monetary Fund estimates that Macedonia will have the lowest growth rate of the entire region in 2023. According to the IMF, Macedonia’s economy will grow by just 1.4 percent. Serbia, Bosnia and Albania will grow by about 2 percent and Kosovo and Montenegro will be above 3 percent. Meanwhile,...
Macedonia 27.02.23 | 11:18

Two thirds of citizens don’t expect the economy to improve under Kovacevski

Macedonian citizens don’t see current Prime Minister Dimitar Kovacevski turning the economy around. The latest poll conducted by Market Vision for MKD.mk shows that only 19.3 percent see Kovacevski improving he economy, while 67.8 percent don’t see this happening. Of the 1,200 citizens who...
Economy 22.01.23 | 21:26

Poll: 49.1 percent of the citizens can’t make it through the month with their current salaries

A poll conducted by IPIS for the Detektor show revealed that half of our citizens (49.1%) can’t make ends meet with their current monthly salaries. In light of the spiking inflation, 80 percent of those polled said that their costs have risen compared to last year, and 54.4 percent said that their...
Macedonia 27.11.22 | 11:27

VMRO-DPMNE: Kovacevski caused an economic disaster

In response to comments from SDSM leader and Prime Minister Dimitar Kovacevski that he is delivering an improved economic situation, VMRO-DPMNE pointed to the fact that 12,000 businesses shut down in the past year and half. He promised to end the energy crisis, but instead of relying on domestic production,...
Macedonia 14.03.22 | 22:46

Finance Minister Besimi agrees that the economic measures will not be enough

Finance Minister Fatmir Besimi agreed that the measures which his Government has introduced are not enough, because the economic crisis is far too deep. I think that we had an all encompassing package pretty quickly, and we won’t stop there. But what we need to know is that what the Government...
Economy 10.03.22 | 10:35

VMRO-DPMNE: Half-measures will not help the citizens

The Government is deluding the citizens with half-measures that will not put an end to the inflation and the overall crisis, said the opposition VMRO-DPMNE party in a statement. The Government yesterday announced modest cuts to the fuel excise tax and to the value added tax on some strategic resources. Some...
Economy 05.03.22 | 12:41

Macedonia is unlikely to reach its 4 percent growth target for 2022

The Finance Think analytical group warns that Macedonia won’t be able to meet its 4 percent GDP growth projection for 2022, due to the war in Ukraine. Uncertainty is elevated at the start of 2022, due to the increase in food and energy prices at the global level. Outlook is made even worse by the...
Economy 21.02.22 | 10:11

The state budget fills up even as living standards are eroding

With the spiking inflation, living standards are quickly declining, but there is a false appearance of stability in public finances, said VMRO-DPMNE President Hristijan Mickoski in a Sitel TV interview yesterday. Mickoski noted that the budget is filling up due to the increase in value added tax receipts...
Economy 02.01.22 | 10:44

“Nobody is prepared for the price shock that is coming”

Companies are bracing for a major energy shock in 2022, as the electricity prices spike in light of collapsing domestic production. Drilon Iseni from the Chamber of commerce of North-Western Macedonia, which represents mainly ethnic Albanian owned businesses, said that nobody is prepared for the blow...
Macedonia 13.10.21 | 23:32

With the EU agenda and the Covid response in tatters, Zaev tries to campaign on the economy

With his EU agenda in tatters, and the handling of the coronavirus ranked even worse due to the sky high death rate and the Tetovo hospital disaster, Zoran Zaev turned to a new talking point for the end of the local election campaign – the economy. In his remarks in Butel in Skopje today, Zaev...
Economy 06.09.21 | 18:14

Byrnes: Macedonian economy showed it can adapt and thrive

While large companies are able to maneuver through bureaucracies and make significant investments in Macedonia, smaller companies find this business environment difficult. So ensuring that procurement processes are transparent and establishing a professional bureaucracy that’s able to work with companies...
Economy 04.08.21 | 11:14

VMRO-DPMNE: In the economy part, Zaev’s government only knows of price hikes and borrowing

In the economy part, we can only hear from Zaev’s government about price increases and borrowing. The last decision to increase the price of fuels, which will reach up to 3.5 denars more per liter, will be a new blow to the pockets of the people. The standard is falling and everything is getting...
Macedonia Economy 10.07.21 | 21:00

If nothing changes, in ten years salaries in Macedonia will be half the regional average

If Macedonia’s economic growth continues to lag behind other countries in the region with the current rate, in ten years we will have half the regional salaries and retirement incomes, warned economist Goce Dimkovski from VMRO-DPMNE. He pointed that the Zaev Government failed to deliver the promised...
Macedonia Economy 10.07.21 | 10:02

Vienna Institute ranks Macedonia among three worst economic performers in Central and Eastern Europe

VMRO-DPMNE shared some key finds from the recently released report by the Vienna institute for economic studies, which painted a dire picture of the situation in Macedonia. The Institute notes that Macedonia is one of the three countries in Central and Eastern Europe who show now signs of improvement...
Macedonia Economy 07.06.21 | 16:17

Economy dropped by 1.9 percent in the first quarter of 2021

The Macedonian GDP dropped by 1.9 percent in the first quarter of 2021. This was supposed to be a year of economic recovery, but the Third Wave of the epidemic in March and April, coupled with the near total lack of vaccines until May, dashed expectations. The only significant sectors that saw some growth...
Macedonia Economy 17.05.21 | 15:11

Mickoski: The Zaev years are a period of major economic downturn for Macedonia

VMRO-DPMNE President Hristijan Mickoski blamed Zoran Zaev for the economic backsliding and the exploding debt in Macedonia. Mickoski especially pointed to the steep increase in debt compared to GDP growth in the relatively short time Zaev has been in power. If we compare the years of the past VMRO-DPMNE...
Macedonia Economy 03.03.21 | 09:33

2020 GDP drop slowed down in the last quarter, estimated at 4.5 percent for the whole year

Macedonian GDP dropped 4.5 percent for 2020, the State Statistics Bureau informed. The drop slowed down to 0.7 percent in the last quarter of the year, after the free-fall in the middle of the year. Worst hit was manufacturing, which declined by 10.6 percent in the last quarter. Opposite that, real-estate...
Macedonia Economy 18.02.21 | 17:20

Mickoski: Macedonia’s economic stimulus package is among the smallest in the region

Macedonia has offered the least financial aid to its struggling companies in the region, said VMRO-DPMNE President Hristijan Mickoski during after his meeting with the leadership of the chamber of commerce representing companies in the north-west of the country. Macedonia is among the three countries...
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,...
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