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North Macedonia economic and energy development

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2026-09-10 11:20 UTC → 2026-09-11 09:02 UTC · added ~~removed~~

North Macedonia is advancing economic diversification and energy infrastructure to establish itself as a regional hub. In the industrial sector, Prime Minister Hristijan Mickoski previously reported the creation of 17,000 new jobs between Q3 2024 and Q2 2026. Recent data from the State Statistical Office for 2026 shows divergent economic trends. The Gross Domestic Product (GDP) grew by 4.3% in the second quarter compared to the previous year—marking an acceleration from the 3.1% growth recorded in the first quarter—bringing the average growth for the first half of the year to approximately 3.7%. This expansion was largely driven by a 21.9% surge in the construction sector, a 16.5% increase in gross investments, and a 10.4% rise in exports of goods and services. However, the industrial sector experienced a decline in employment. In July 2026, the number of industrial workers fell by 2.6% year-on-year, with significant decreases in clothing manufacturing (-11.6%) and mining and quarrying (-7.8%). Conversely, employment grew in the production of computer, electronic, and optical products (15.1%), tobacco (9.3%), and beverages (2.8%). While Finance Minister Gordana Dimitrieska-Koçoska noted that the economy has maintained positive growth for ten consecutive quarters, analysts from Finance Think suggested that growth is heavily induced by public spending, contributing to a budget deficit of 7.1% in the first half of the year. To ~~bolster~~ address fiscal management, Dimitrieska-Koçoska stated at the ~~labor market and investment climate, North Macedonia signed a Memorandum of Cooperation in~~ Ohrid 2026 Regional Conference that the ~~field of labor with Qatar. Additionally, domestic growth is being supported by expansions from companies such as KIEL~~ Ministry allowed for a higher budget deficit during a recent rebalance to fund value-adding projects, while aiming for gradual fiscal consolidation through expenditure management and ~~Cavo Automatik within the Tetovo economic zone. By September 2026,~~ revenue optimization. Investment activity remains a focal point. Prime Minister Mickoski reported that foreign direct investment reached approximately 1.4 billion euros over the preceding 24 to 25 months, ~~a figure he contrasted with~~ nearly double the ~~roughly~~ 750 million euros recorded under the previous administration.

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