“The initial economic indicators regarding this Government’s performance and its dedicated work over the past 27 or 28 months are already visible, resulting in numerous projects and stabilization efforts—achieved despite inheriting a state teetering on the brink of an abyss and operating amidst the greatest energy crisis humanity has ever known,” Prime Minister Hristijan Mickoski assessed today.
Speaking at the official groundbreaking ceremony for the Bukojcani–Kicevo highway, the Prime Minister highlighted economic indicators showing that the country ranks among the top growth performers in Europe; he noted that GDP growth reached 4.3% in the second quarter of the year—placing it in the top five in Europe—while inflation in the third quarter was 25% lower than the EU average.
“I will state this—without false modesty, and fully aware that many opposition politicians will disagree or attempt to ridicule me for citing facts that place us among Europe’s top five—I will continue to reiterate these points. Specifically, in the second quarter of this year, GDP growth stood at 4.3%, ranking us among the top five in Europe and making ours—by a wide margin—one of the highest growth rates in the region, if not the highest.” At the same time, it is important to note the consolidated state of the economy regarding inflation—specifically the cost of living—since our average inflation in the third quarter stood at 2.5%; in contrast, among our neighbors—whether to the south, east, or west—one observes average inflation rates of 5 percent or higher, even though not long ago we were told that our inflation was double the EU average because it was “imported,” Mickoski emphasized.
He pointed out that inflation was 25 percent lower than the EU average in the third quarter and that the GDP projection for 2024 was revised from 3 percent to 3.8 percent, which in itself implies a reduction in the debt ratio from 61 percent to 57.4 percent.
“We have maintained our credit rating according to all credible international rating agencies; while other countries in the region and across Europe have seen downward adjustments, ours has remained unchanged, with a trend toward stability and potential upward movement,” the Prime Minister noted.
