Skopje, 25 October 2023 (MIA) - Real wages have increased since April. Effects from the crisis are not felt only by our citizens but in Europe and the world as well. Challenges persist because of geopolitical issues that also affect the markets, Finance Minister Fatmir Besimi said on Wednesday.

Minister Besimi said in response to a reporter's question that there has been not been a nominal wage growth but also a real wage growth because of dropping inflation, adding it is important for wages to increase and for that growth to be sustainable.

"At no point did we say that we would absorb the economic shock at 100 percent. Macedonia was the most affected in terms of prices on the European market, but we mitigated that effect and will continue to do so. Citizens can see that despite the increase in prices, wages in the public and private sector grew as well, compared to other countries," Besimi said.

He recalled that the Macedonian economy is small and highly integrated in the European market, 80 percent of the trade is done with the EU, primarily with Germany, which is currently in recession. ssh/ik/

Photo: Screenshot