EU will give North Macedonia €160 million aid to help prevent economic fallout by COVID-19 pandemic
The European Commission decided to give North Macedonia €160 million from the macro-financial assistance (MFA) package to support country's economy which is hard hit by the coronavirus. The whole package, aimed for 10 countries, amounts to €3 billion and relates to strengthening fiscal governance...
North Macedonia: Number of mobile subscribers drops, number of landlines rises slightly
Is it an increased interest among the citizens for the use of landline telephony or is it actually a rise in the sale of service bundles by the Internet and landline telephony operators? There is an unusual twist on the market of electronic communications...
The coronavirus causes a sharp fall of the real estate market in North Macedonia
The new data from the Register of prices and leases by the Agency for Real Estate Cadastre shows a drastic decrease in the trading on the real estate market in North Macedonia in the period between the 1st of April and 30th of June....
FOSM provides $148,000 COVID-19 aid for the vulnerable groups
The Foundation Open Society - Macedonia (FOSM) will provide $148,000 COVID-19 local support for the vulnerable groups, through the regional project "Response to the socioeconomic effects of COVID-19 through support for the vulnerable groups, workers with low salaries, the workers from the informal economy...
The coronavirus crisis hits Macedonian tourism hard, in May there was a loss of 100.000 tourists
Macedonian tourism is suffering losses in millions of euros as a consequence of the COVID-19 pandemic that has hit North Macedonia. In May 2020, the number of tourists has decreased by almost 100.000 guests compared to the same period last year, show the data...
One-quarter of Macedonian citizens live at the moment and do not plan for the future
One quarter (25%) of Macedonian citizens say they agree with the statement "live for today and let tomorrow take care of itself", 17% are neutral regarding this issue and 51% don't agree with this way of living. These are some of the results of...
The end of the state of emergency will remove the price ceiling for masks, southern fruits and basic food products
With the end of the state of emergency, several government orders that prevented the price rise of basic food products, southern fruits, and protective equipment will expire. These were adopted to prevent manipulations in the trade when the coronavirus occurred.
The Ministry of Economy informs...
The majority of young people would emigrate to a foreign country with higher taxes
7 out of 10 North Macedonian citizens aged between 18-24 would want to pay higher taxes and to live abroad, while the elderly would want to pay lower taxes and to remain to live in North Macedonia, shows the new study conducted by the...
COVID-19 crisis increased the credit card payments in North Macedonia in March
During the first quarter of this year, all payments in North Macedonia by legal entities and private individuals via credit transfers and payment cards have increased by 15.2% compared to the same period last year. At the same time, the value of performed transactions...
€137 million foreign investments in North Macedonia in the first quarter of 2020
In the first three months of this years, the total foreign investments amount to €137.7 million, which is significant rise over the same quarter of 2019, when the foreign companies invested €48.5 million, the Central Bank of North Macedonia data shows.
It is interesting that...
Green economies for sustainable energy future: Will North Macedonia phase out coal as energy source? (VIDEO)
The transition towards clean energy sources is necessary not only for reaching the energy and climate goals, but also to protect people's health. Also, the transition to green economy doesn't exclude North Macedonia, even though the country's energy system is almost completely dependent on...
The coronavirus crisis reduced the number of employees in the tourism sector between 81-100 %
In conditions when the situation with the tourism sector is painful and complex, it is hard to imagine that one measure can compensate the consequences from the COVID-19 pandemic due to the scope of the problems that resulted and are getting increased. A new...
Macedonian Government still hasn’t received the rulling of the Administrative Court about Ilovica Mine
The Government still hasn't received the ruling of the Administrative Court on the lawsuit by the former concessionaire of the mines in Ilovica and Shtuka, even though it was accepted by the end of March.
"The Government of the Republic of North Macedonia still hasn't...
The number of counterfeit banknotes in North Macedonia is on the rise
There is a significant increase of discovered counterfeit denar banknotes confirmed the National Bank of North Macedonia in its annual report for 2019. Out of 434 suspicious banknotes denominated in denars, during an investigation last year, it was determined that 73 were original while...
National Bank of Macedonia again cut the key interest rate from 1.75 to 1.5
With the slashing of the basic interest rate in January and March, the national Bank's Committee for operative monetary policy (COMP) at a session adopted a decision to lower it again by 0.25% and is now 1.5%.
"This relaxing of the monetary policy is...
EBRD forecasts a drop in Macedonia’s GDP by 3.5% in 2020
The economies in the region that are covered by the European Bank for Reconstruction and Development will drop by average 3.5% during this year with a growth by 4.8% in 2021, and the forecasts are a subjects of "unprecedented uncertainty". These are the forecasts...
Large number of caterers will not be able to open their capacities regardless if the protective measures are reduced
The caterers are bearing large financial losses due to the pandemic and are enduring the crisis with great difficulties with the offered package with financial aid. Most of them will not be able completely to start with work even with the reduction of the...
National Bank forecasts a drop of the Macedonian economy by 3.5% due to the coronavirus crisis
The national Bank projected a drop of the gross Domestic Product by 3.5% against the October expectations for growth by 3.8%.
"Regarding the structure of the growth, a decline is expected both with domestic and exporting demands. In 2021, with the normalization of the...
World Bank expects a recession in Macedonia due to the coronavirus crisis
The Macedonian economy is facing with a recession and a projected negative growth of the GDP in 2020 of 0.4% if the coronavirus crisis end by the end of June and then the economy will start returning to normal, states the latest report issued...
In the worst case scenario the deficit in the budget would be 1.3 billion euros said the Macedonian Finance Minister Angelovska
The Finance Minister Nina Angelovska outlined three scenarios for dealing with the consequences on the economy that were caused by the coronavirus: favorable, unfavorable and most unfavorable.
"With the first, favorable, scenario, there will be a projected revenue shortfall of 20 percent. That...
