Minister of Economy and Finance Hristo Hristov Mitzkoiski stated that financial assistance received from the European Union served as a significant catalyst for the national economy. He noted that the country has experienced growth of 3% over several quarters, a rate that reportedly exceeds the average European Union growth by 2%. Mitzkoiski detailed the impact of the funding, which he described as crucial in restructuring the Eurofund from an initial half-billion euros to 250 million euros.
This allocated money was divided equally, with 250 million euros designated for societal development and another 250 million euros earmarked for the economy. Furthermore, the investment included a 1.95% capital increase within the commercial banking sector. According to the Minister, these measures provided a substantial boost to the economy, contributing to the growth of the nation’s gross domestic product.
Looking ahead, the projections indicate that from the third quarter of 2024 to the first quarter of 2026, the country’s economy is expected to achieve a 3% growth in real parameters. This contrasts with the growth rates cited for its largest EU partner at 1.4%, and the general Eurozone average of 1.25%. The Minister’s assessment suggests that the inflow of money from the EU has positioned the local economy favorably against broader European trends.
Topics: #economy #euros #money
