BAKU, Azerbaijan, September 25. North
Macedonia’s economy continues to grow despite geopolitical
uncertainties and pressure on energy prices, North Macedonia’s
Minister of Economy and Labor Besar Durmishi said this at the 2nd
Azerbaijan International Investment Forum in Baku today, Trend‘s correspondent reports
from the event.
The minister said the country’s economy grew by 3.7% in the
first half of this year.
“Despite geopolitical uncertainties and pressure on energy
prices, our economy grew by 3.7% in the first half of the year.
Gross investment, one of the main drivers of economic activity,
increased by 9.3%. In the second quarter, economic growth stood at
4.3%,” Durmishi said.
According to him, North Macedonia has identified European and
Euro-Atlantic integration as one of the main directions of its
economic development policy.
“North Macedonia has been a NATO member since 2020 and is a
candidate country for EU membership. Alignment with EU standards
and various trade agreements provide our country with access to a
broad market of approximately 650 million consumers,” the minister
said.
Durmishi emphasized that energy security is important for the
competitiveness of the country’s industry.
“Diversifying energy sources and ensuring reliable energy
supplies are key conditions for the competitiveness of our
industry. In this regard, we are working to strengthen the energy
network, develop energy storage systems and accelerate large-scale
infrastructure projects,” he said.
The minister said that ongoing infrastructure projects have also
supported growth in the construction sector. According to him, the
construction sector grew by 15% in the first half of the year.
Durmishi said improving the business environment is also among
the government’s key priorities.
“We are working to make the business environment more favorable
by simplifying administrative procedures, reducing the regulatory
burden and digitalizing public services,” the minister
emphasized.
He also highlighted the importance of expanding regional
economic cooperation.
“Within the framework of the Common Regional Market initiative
with the Western Balkan countries, we are facilitating the free
movement of goods, services, capital and people. This initiative
serves as an important bridge for the region’s integration into the
European Union’s Single Market,” Durmishi added.
