Skopje, 20 March 2023 (MIA) – Minister of Economy Kreshnik Bekteshi said he expects North Macedonia to end 2023 with at most 7.1 percent inflation. At a press conference Monday, Bekteshi said that a downward trend has been noted in the rate of inflation and is expected to continue in the coming months.

“The rate of inflation has been decreasing the past three months. I am convinced that we will reduce it down to 7.1 percent, and if the downward trend continues in the coming months, after the summer, then I think it can even drop below 7.1 percent,” stressed Bekteshi.

Bekteshi’s press conference began with an analysis of the minimal consumer basket. Bekteshi first noted that according to the methodology published by the Federation of Trade Unions of Macedonia, which sets the minimal consumer basket, the rate of inflation was calculated twice and because of that, the figures from August onwards, said the Minister, should not be taken into account when it comes to how much of the minimal consumer basket needs are covered by the minimum wage.

According to Bekteshi, we have already reached a point in which we need 2.1 wages to cover the needs of the minimal consumer basket. He noted that this figure stood at 3.9 wages in 2012, four wages in 2013 and 2014, while this number has been dropping from 2017 onwards.

“The March data shows that we will need less than two minimum wages to cover the minimal consumer basket. This shows that the government is fully committed to raising wages both in the private and public sector. In April, the wages will be paid out in line with the latest decision, both when it comes to the minimum wage and the Mden 2.175 linear increase in the public sector. Comparative analyses show that this government is fully committed to reaching a minimum wage that will allow citizens to cover their monthly needs,” underlined the Minister. ad/sk/