North Macedonia announces 3% pension increase for September

The government of North Macedonia has announced a 3% increase in pensions for September, which will be paid out in October. Under current law, the adjustment is calculated as a percentage based on individual income rather than a linear increase. The formula utilizes a combination of 50% of the increase in the cost of living and 50% of the average net wage growth from the first half of the year.

Critics note that the 3% increase may not sufficiently offset rising costs, as food prices have risen by 4.8% and maintenance expenses by 3.8% over the past year. North Macedonia currently maintains some of the lowest average pensions in the region, with an average of 457 euros. The next scheduled pension adjustment is expected in March of next year.