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.
