All News on Economics in Macedonia

Bulgaria's Non-EU Exports 10.6% Down in Jan-Oct

Exports to third countries have shrunk by 10.6% between January and October compared to the same period of last year, national statistics show.

The amount exported for that time was BGN 11.973 B, with Turkey, Macedonia, Serbia, China, Russia and the US being the main non-EU partners for Bulgarian goods.

Bulgaria Ranks 57th in Legatum's Prosperity Index

In ten years, Bulgaria has climbed three positions in the Prosperity Index of the London-based Legatum Institute, but bad scores in the management, health care and personal freedom sub-indices leave the country at the bottom of the ranking among EU member-states.

Bulgaria's Trade with Third Countries Dipped in Jan-Aug

Both exports and imports of Bulgaria to third countries fell in the first eight months of this year, compared to the same period of 2015, statistics show.

Exports amounted to BGN 9.5161 B. The main trade partners included Turkey, Macedonia, Serbia, China, Russia, and the United States, accounting for 49.7% of the exports to non-EU countries.

Turkey cheaper than Europe but cars, booze, tobacco remain expensive

Turkey is more expensive than a few European countries but it remains cheaper than a majority of the continent, according to a new comparative purchasing power parity index released June 19 by the Turkish Statistics Institute (TÜ?K).

However, car prices stood above European levels, as did the prices of alcoholic beverages, tobacco and consumer electronics.

Macedonia Probes Migrant Kidnapping Claims

Police said they had launched a probe after Britain's Channel 4 News programme broadcast a report about hundreds of migrants from countries like Syria, Afghanistan and Yemen being held for ransom by gangs in at least one Macedonian village, alleging that local police has been colluding with their captors.

World Bank issues report on growth prospects in SEE

BELGRADE - Positive economic growth is expected this year throughout the region, with the exception of Serbia, whose gross domestic product is projected to drop by 0.5%, according to the World Bank's latest South East Europe Regular Economic Report.

Gruevski expects further successful cooperation

BEOGRAD - The Third Meeting of China and CEECs is expected to create possibilities for further successful cooperation among all the countries from this region, Macedonian Prime Minister Nikola Gruevski said in an exclusive opinion piece for Tanjug ahead of the Third Meeting of Heads of Government of China and Central and Eastern European countries in Belgrade, which Tanjug publishes in full.

Foreign Investors Shy Away From Macedonia

In the first eight months of 2014, Macedonia attracted €176 million in FDI, which was 11 €million less than the same period last year, data from the Central Bank show.

Macedonia attracted only €251 million in FDI in 2013, which was the worst score in the region, below Kosovo, which attracted slightly more - €259 million.

Fitch Affirms Macedonia's Rating at BB+ with Stable Outlook

Fitch Ratings has affirmed Macedonia's Long-term  foreign and local currency Issuer Default Ratings (IDR) at 'BB+' with Stable Outlooks.

The issue ratings on senior unsecured foreign currency bonds have also been affirmed at 'BB+'. Fitch has also affirmed Macedonia's Short-term IDR at 'B' and Country Ceiling at 'BBB-'.

Construction Powers Strong Growth in Macedonia

The construction sector, which grew by 13.7 per cent in the first quarter of 2014, is seen as the main driver of the current growth rate, which matches official economic forecasts for the year.

The new government platform submitted by Nikola Gruevski after he won the April general elections set economic growth for this and next year at three to four per cent.

Macedonia Names and Shames Worst Debtors

Three public enterprises, “Makedonija pat”, “Makedonski sumi”  and “Komunalec - Gostivar”, are among the top ten debtors in Macedonia, according the report of the Public Revenue Office. Together they owe the state around €11 million.

The list reveals that some 3,500 state and private companies as well as individuals owe the state a total of €200 million.

Macedonia's Spending Hike Fuels Debt Concerns

The latest Finance Ministry report reveals that in the first four months of 2014, the government spent almost €200 million more than it managed to gather from taxes.

This sum amounts to two-thirds of the planned €300 million budget deficit for the whole year, which is set at 3.5 per cent of GDP.

World Bank Hails Economic Growth in Macedonia

The latest report of the World Bank says Macedonia’s economy grew last year by 3.1 per cent of GDP, well above the regional average of 2.2 per cent growth in 2013.