GDP Grows 4.3 Percent — But the Average Salary Covers Only 70 Percent of the Basket
Inflation is falling toward 2.6%, but informal employment is up 7.2%. Pensions rise separately, by 3 to 3.5%, under a different formula.
The State Statistical Office confirmed real GDP growth of 4.3 percent in the second quarter of 2026, year-on-year — an acceleration from 3.1 percent in the first quarter. The seasonally and calendar-adjusted rate, more comparable to European data, stands at 4 percent. At that pace, Macedonia would rank near the top of the European list.
The figure, however, doesn't show the whole economic picture. The average salary, according to analysis, covers about 70 percent of the union's minimum basket — a share that varies significantly depending on which month is used for comparison, due to monthly wage volatility. Informal employment reached 101,022, up 7.2 percent from the previous quarter, while unemployment stood at 11.3 percent.
Inflation, in parallel, continues to fall — from 16.8 percent in August 2022 to 2.6 percent in August 2026, according to government data. VMRO-DPMNE MP Biljana Kuzmanoska uses the figures for a direct comparison with the previous government, claiming growth back then was around 2 percent, wages rose 5 percent, and inflation reached 20 percent over the same period.
Social Policy Minister Goko Velkovski announced that pensions — separately from GDP growth — will rise by 3 to 3.5 percent, with the final figure set in early September. This is not directly tied to the 4.3 percent GDP growth rate, but to a separate legal indexing formula.
MKNews Hub · Economy · September 24, 2026
