3rd March 2026, Skopje - According to latest data released by the State Statistical Office, GDP growth in 2025 speaks in favour of the prudent and consistent approach in planning and conducting the fiscal policy, the Minister of Finance, Gordana Dimitrieska-Kochoska, stated at today’s press conference. As per the figures published, real GDP growth in 2025 reached 3.5%, being in line with the Ministry of Finance projections, with the nominal growth slightly exceeding the expectations.
“Today, the State Statistical Office published data on the economic growth in 2025, which for both the Ministry of Finance and the Government are a clear evidence that, even amid uncertainty, well-designed policies can deliver sustainable results,” Dimitrieska-Kochoska said.
In Q4 2025, GDP growth reached 3.8%, clearly indicating, according to the Minister, the positive economic developments in the country, also demonstrating continuity in achieving solid economic performance. The economy maintained this pace for six consecutive quarters, creating conditions for attaining higher growth rates.
“It is particularly important that growth builds on the strong 4.3% growth recorded in the same quarter 2024, underscoring the continuity of positive performance”, the Minister said.
Compared to the countries in the region and the EU, Macedonia once again ranks among the economies with the highest growth, placing fourth, with higher growth recorded only in Malta, Cyprus and Poland. When compared with countries in the region, growth stood at 2.2% in Serbia, 3.6% in Croatia, 3.0% in Bulgaria, 2.0% in Slovenia, etc.
At the press conference, the Minister stated that economic growth in Q4 was broad-based, highlighting that the strong momentum in the construction sector continued, recording 14.6% growth. According to the available data, this was driven by the increased activity in the civil engineering with real growth of 12.5% in the fourth quarter. As she noted, this further confirms that the Government’s strong commitment to capital investments, along with efforts to optimize costs, timelines and construction conditions, has contributed to strengthening overall economic activity. The Minister also highlighted the notable growth of 8.1% in professional and scientific activities, the growth recorded at trade and transport, standing at 4.4%, along with 3.6% and 2.7% growth in manufacturing and real estate respectively, among other sectors.
“What is especially encouraging is the strong real growth of export of goods and services, which rose by 9.7%, indicating a continued recovery of the export activity that began earlier in 2025, following the declines in the previous years. Import, on the other hand, grew by 3.3%, with net export having a positive contribution to overall economic activity. Private consumption remained stable, with real growth of 2.0%, underpinned by the wage increase”, the Minister pointed out.
She highlighted that, given the high openness of the country, the Macedonian economy has been strongly influenced by the external developments. However, she stressed, this is a challenge the Government is committed to addressing, and just as it has effectively managed the economic issues over the past 20 months, it will continue to do so. We will introduce measures and design policies that benefit both the business sector and the citizens, while taking into account the international landscape, the Minister of Finance said.
At the press conference, she announced that the 2025 budget deficit remained within the projected 4.0% of GDP, while public debt declined to 59.3% of GDP, according to the latest figures released by the State Statistical Office.
