Tag: gdp
Macedonia Economy 09.06.21 | 19:25

Zaev addresses the dismal economic reports, claims that the situation will turn around

Following the unexpected 1.9 percent GDP drop in the first quarter of the year, Prime Minister Zoran Zaev insisted that the situation will improve in the rest of the year. Still, the result badly damages his prospects of achieving the promised 4.1 percent growth for the entire year. Zaev actually sounded...

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 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...

Economy 08.12.20 | 09:19

The pandemic will have long-lasting effects on economy, NBRM projects a drop of 4.9 % for this year, Government maintains projection of 4.4 % drop

The Macedonian economy dropped by 3.3 percent in the third quarter, as a result of the pandemic, which contributed to the National Bank revising its April projection from -3.5% to -4.9%. The recession for this year is expected, and the authorities expect recovery next year. According to the estimated...

Macedonia Economy 08.10.20 | 13:47

In three years, SDSM added two billion EUR to the debt

Under the Zaev regime, starting with mid 2017, the Macedonian public debt has increased by two billion EUR. With this, Macedonia is about to move from the rank of moderately to highly indebted country. In Q2 2017, the last quarter before SDSM’s power-grab, Macedonia had a public debt of 4.7 billion...

Economy 07.09.20 | 14:22

Historic drop: Export down 32%, GDP sees a 12.7 % decrease

The growth rate of Macedonia’s Gross Domestic Product (GDP) in the second quarter of 2020 was -12.7%, State Statistical Office data shows. In this quarter, increase was recorded in sections: Agriculture, forestry and fishing by 4.5 %; Public administration and defence; Compulsory social security; Education;...

Economy 03.07.20 | 10:17

Macedonian public debt grows to 53,3 percent of GDP

Macedonia’s public debt reached 53,3 percent of GDP in May. It grew by 2,6 percent in just two months, largely driven by the 700 million EUR loan meant to cover public spending because of the reduction in revenue caused by the coronavirus epidemic. Tax revenue is down 9 percent in the first six...

Economy 24.04.20 | 17:06

Finance Minister Angelovska sees a 3,7 percent GDP contraction in 2020

Finance Minister Nina Angelovska sees a drop in GDP of 3,7 percent for 2020. She said that her estimate is slightly more conservative compared to the IMF estimate of a 4 percent drop. The main blow will be in the second quarter, and some contraction will continue into the third quarter, while we can...

Macedonia 31.03.20 | 12:38

As the newest NATO member state, it’s doubtful Macedonia can meet its spending requirement this year

Faced with an unprecedented financial crisis due to the coronavirus epidemic, Macedonia is looking to make cuts that have never before been considered. Zoran Zaev, leader of the ruling SDSM party, is proposing placing the public administration to the minimum wage for two months in order to plug a hole...

Economy 06.12.19 | 14:39

GDP growth of 3.6 percent in the third quarter of 2019

The State Statistics Bureau today informed that the GDP grew by 3.6 percent in the third quarter of 2019. Growth was reported in the mining, manufacturing, energy and waste management sectors, in construction and in the food industry. This is in accordance with the figures for the first and second quarter...

Economy 08.11.19 | 20:03

SSK chamber of commerce doesn’t believe the economy will really grow by 3.5 percent in 2019

Daniela Arsovska, head of the Association of chambers of commerce (SSK), is skeptical about the projected growth rate of 3.5 percent for 2019. The National bank gave its projection but I don’t think it will be doable given the election campaign. Companies are looking into their plans for the first...

World 29.07.19 | 11:27

Hungarian economy expected to grow by 4.3 percent in 2019

In his latest report, the Hungarian GKI Economic Research Institute improved its forecast for this year’s GDP growth, from 4% to 4.3%, the V4 news agency reported. Based on their analysis, April-May data suggests that the growth of the Hungarian economy started slowing down in the second quarter compared...