Dimitrieska-Koçoska: After two years leading public finances, the economy has entered a phase of sustainable growth

Finance Minister Gordana Dimitrieska-Koçoska said today that after two years of managing public finances, during a period marked by economic hardship, global uncertainty and major fiscal challenges, the country is now recording steady recovery and uninterrupted economic growth.

Speaking at a press conference at the Government, where she presented a review of the work done, she said that over these two years, deliberate decisions were made in favor of discipline, fiscal responsibility and long-term solutions, instead of short-term populism.

According to her, macroeconomic indicators clearly confirm this direction. She recalled that from 2017 to 2023, average economic growth was around 1.8 percent, while the current momentum is significantly higher, with 3 percent growth in 2024 and 3.5 percent in the 2025 and 2026 period, reflecting a stable and positive trajectory of economic growth.

Dimitrieska-Koçoska also stressed that inflation, which reached 14.2 percent in 2022 and significantly hit citizens’ living standards, has now declined. According to her, although global uncertainties continue and the consequences of one of the biggest energy and economic crises of recent decades are still being felt, inflation stood at 4.8 percent in May. She added that projections for this year remain within the framework of expected stability.

“This means that we managed to cushion global price shocks and once again ensure a predictable economic environment. This is especially important because stable inflation creates conditions for real wage growth. Over these two years, wage growth continued at a strong pace. Nominal wage growth in 2024 was 12.6 percent, in 2025 it was 9.6 percent, and this year we also expect growth of over 8 percent. But even more importantly, after a long period, citizens are once again seeing real income growth. After real wages fell by 2.9 percent in 2022, they rose by 8.8 percent in 2024, while in 2025 they increased by a full 5.3 percent. This is a key signal that real purchasing power is improving. We are aware of citizens’ problems, we live through them together and are working hard to solve them,” the minister stressed.

She underlined that the improvement is visible in almost all economic statistical indicators.

The minister said that these figures will remain as proof of the work that has been done, adding that economic results are not achieved overnight. According to her, they are backed by major commitment and continuous work at the Ministry of Finance over the past two years.

Dimitrieska-Koçoska stressed that restoring confidence in fiscal policy was one of her personal motivations for accepting the post. She explained that when she took responsibility, the main objective was to stabilize public finances. With the rebalancing of the 2024 Budget, according to her, liquidity was secured, the regular payment of wages, pensions and social transfers was guaranteed, and the timely servicing of state obligations was made possible. She added that this priority was also reflected in subsequent budget decisions and will remain so in the future.

During this period, the minister said, 4.4 billion euros of public debt has been serviced, while another 983 million euros will fall due by the end of the year.