Tag: inflation
Economy 18.06.22 | 16:04

“It is too much, Macedonia among the countries with the highest inflation in Europe in May 2022!”

The fully published data on inflation in May 2022 confirmed the conclusion that Macedonia is among the countries that have the highest inflation within the European Union, countries that are part of the European Economic Area and countries in the region, said VMRO-DPMNE. Only 8 countries are ahead of...

Economy 14.06.22 | 22:36

Inflation is not 10 but about 50 percent

Inflation in Macedonia is not 10 percent, inflation is much higher and there is a typical manipulation of statistics, said Aleksandar Nikoloski, vice president of VMRO-DPMNE on the “Janko jadi burek” show. Nikoloski added that the real inflation in Macedonia is around 50 percent, if one looks...

Economy 08.06.22 | 10:04

Inflation reaches 11.9 percent: Businesses seek urgent assistance, state yet to consider it

The state should immediately take measures to intervene in a possible escalation of the situation that could occur next winter, warned the Economic Chamber of Macedonia, asking for savings, especially of electricity from the state, citizens and companies. Meanwhile, the State Statistical Office said...

Macedonia 22.05.22 | 14:22

Inflation watch: Macedonia is among the worst affected European countries

Macedonia is among the worst affected countries in the latest inflation map put out by the Financial Times. We are among the group of countries that have seen inflation surpass 10 percent – most of them in the east and south of Europe. Formally, inflation in Macedonia reached 10.5 percent in April....

Economy 16.05.22 | 13:32

Inflation has surpassed 10.5 percent

Due to the incompetence of the Government, inflation in Macedonia has reached 10.5 percent – a crisis we haven’t had in 30 years, said the opposition VMRO-DPMNE party. While the prices of basic food items, oil and electricity are up between 10 and 50 percent, salaries remain the same. Our...

Economy 11.05.22 | 13:10

Macedonian Central Bank increases interest rate again, to 1.75 percent

The Macedonian Central Bank (NBRM) announced another rate hike and set its base interest rate at 1.75 percent. This is the second 0.25 percent hike in two months. NBRM informed that they are driven by the need to respond to the latest inflation spike, which surpassed 10 percent in April. The Bank warns...

Economy 11.05.22 | 11:46

SDSM and DUI are to blame for the double digit inflation rate

The double digit inflation rate is because of the incompetence of the SDSM – DUI led Government, said the opposition VMRO-DPMNE party. The April rate officially reached 10.5 percent, but is especially noticeable in important food items, such as cooking oil, as well as in gas. “During this...

Economy 10.05.22 | 15:14

Inflation watch: Cost of living rose by 6.4 percent since January

The SSM union warns that cost of living continues to rise as inflation erodes living standards. It now costs 38.104 denars (almost 650 EUR) to support a family of four, which is 3.6 percent more than in March and 6.4 percent more compared to January. The average salary in Macedonia is just below 500...

Economy 09.05.22 | 13:53

Inflation watch: Cooking oil prices went up by 20 percent in April

The DZS statistics bureau released its latest report on the growing inflation rate. It shows that the price increase is worst in the cooking oil and similar products category, where it reached a little over 20 percent in April, compared to March. Other products that got excessively more expensive are...

Economy 08.05.22 | 17:36

Slaveski: The Government is partially to blame for the inflation spike

Former Finance Minister Trajko Slaveski warned that the Government is failing to control the inflation and the growing economic crisis, while failing to build up on the significant reforms VMRO-DPMNE implemented for a decade until 2016. The VMRO-DPMNE Government began to implement reforms since 2006,...

Economy 08.05.22 | 16:13

Central Bank Governor Angelovska expects the inflation to speed up and the economy to get worse

Macedonian Central Bank Governor Anita Angelovska – Bezoska told Croatian television that she expects inflation to speed up and the regional economies to slow down, as result of the war in Ukraine. Angelovska attended the regional meeting of central bank governors in Rovinj. Countries in the...

Economy 06.05.22 | 12:11

Inflation watch: Hospitality industry prices went up by almost 10 percent in a year

Restaurant and other hospitality prices went up by 2.5 percent in April, and by almost 10 percent compared to April 2021. The State Statistics Bureau set the rate of inflation in the hospitality industry at 9.8 percent. In the first quarter of 2022, prices went up by 6.3 percent.

Economy 25.04.22 | 09:44

In just 3 years, every citizen indebted for new 1,250 euros

The citizens of the Republic of Macedonia will relive the same images and events from the 90s of the last century. Increased inflation, high prices of basic food products, and low incomes, warned VMRO-DPMNE, emphasizing that poverty is growing in Macedonia. Inflation has completely eaten away the standard...

Economy 13.04.22 | 17:45

Inflation watch: Retail prices have gone up by almost 10 percent

The increase in retail prices has reached 9.6 percent over the past month, said VMRO-DPMNE member of Parliament Mile Lefkov. The official inflation rate for the month is 8.8 percent, but the prices that most affect citizens have grown by even more than that. Milk is up by 7.4 percent, bread and grains...

Macedonia 04.04.22 | 16:41

Governments signs more food and beverage contracts even as it claims it is cutting costs

The SDSM led Government signed a contract to purchase bottled water, fruit juices and teas for 7 million denars on March 23rd, and then, six days later, signed another similar contract worth 3.8 million denars, said VMRO-DPMNE spokesman Dimitar Arsovski. They are spending 11 million denars on drinks...

Macedonia 30.03.22 | 10:22

VMRO-DPMNE: Inflation eats away incomes, the Government is doing nothing

Inflation eats away the incomes, the government is doing nothing, the basic products and fuels are increased by 70%, and the bread by 110%, says VMRO-DPMNE. In just a year and a half, fuels have become 70% more expensive, and they are a basic element for the citizens and in almost every branch of industry....

Economy 14.03.22 | 22:41

Kadievska: Bad forecast for the Macedonian economy

Macedonia has low growth rates and spiking inflation, and badly worsening trade exchange in the last quarter of 2021, where our deficit is up to 900 million EUR due to the energy imports. Sanctions will be an additional blow for our farmers, said Maja Kadievska Vojnovic in an Alfa TV interview. The Central...

Economy 11.03.22 | 14:37

Gosev: The Government’s inflationary measures are contradictory, they act like a bull in a china shop

Former Central Bank Governor Petar Gosev evaluated the economic measures undertaken by the Kovacevski Government as “bull in a china shop”. The Government and the opposition are competing in who will emit more populist signals and offer a bigger mess as its proposal. The measures to reduce...

Macedonia 03.03.22 | 20:16

Inflation watch: VMRO-DPMNE proposes cuts to the gas and food taxes

VMRO-DPMNE is proposing that the excise tax collected on gas imports is reduced by 50 percent, and that the value added tax on food is reduced to 5 percent. The party’s Vice President Aleksandar Nikoloski said that this would help reduce the spiking inflation. During a TV interview, Nikoloski also...

Economy 25.02.22 | 11:12

Inflation watch: Food prices are up by 40 percent since 2020

Prices of cooking oil, flour and milk are up by 40 percent in a year and half, said the VMRO-DPMNE party in a press release. Cooking oil was 57 denars (just under 1 EUR) a liter in 2020. Now it’s 98 denars, and salaries have remained stuck. Flour was 34 denars a kilogram, now it sells for 47 denars...

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