World Bank: Wages in Macedonia are increasing without productivity growth, this will increase inflation

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North Macedonia’s inflation is expected to reach 3% in 2024 before returning to the country’s long-term average of 2% in 2025-26, the World Bank said Thursday presenting its new Western Balkans Regular Economic Report.

According to the World Bank, the country has an increasing budget deficit, and last year it had the lowest economic growth in the region. This year, growth is expected to be strongly driven by highway construction. Senior economist SanjaMadzarevic-Sujster said that North Macedonia’s policies regarding inflation were quite appropriate. Last year, according to the economist, the growth in the country was the lowest in the region mainly because the export was not as strong as expected.

 

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