North Macedonia reports 4.3% GDP growth and lower inflation

North Macedonian Prime Minister Hristijan Mickoski reported significant economic growth and stabilization during a recent address. He stated that the country's GDP grew by 4.3% in the second quarter, ranking it among the top five performers in Europe and marking one of the highest growth rates in the region.

Mickoski highlighted that inflation in the third quarter was approximately 2.5%, which is 25% lower than the European Union average. He noted that this stability comes despite global energy crises and inherited economic challenges. Additionally, the 2024 GDP projection was revised upward from 3% to 3.8%, contributing to a reduction in the debt ratio from 61% to 57.4%.

The Prime Minister also outlined social economic goals, stating the government aims to increase the average net salary to 1,000 euros (approximately 60,000 denars) by the end of the current mandate. He noted that exports for the first eight months of the year reached 5.74 billion euros, an 8.7% increase, and that the average net salary in July reached 48,499 denars, representing a 7.1% annual nominal growth.