Skopje, 18 October 2024 (MIA) – Prime Minister Hristijan Mickoski announced new German investments, with the largest, as he highlighted, being a wind park near Kumanovo, Rankovce, Kriva Palanka, and Staro Nagorichane, valued at over 400 million euros. By the end of the year, according to the Prime Minister, two German companies will begin investing. One, already established in the country, will construct a new production facility, while the other will initiate a brand-new greenfield investment.

In response to reporters’ questions after the groundbreaking ceremony for a new school in Chento on Friday, Mickoski expects increased economic activity, driven by the faster pace of capital investments and a GDP growth of over 3% in the third and fourth quarters of the year.

According to Mickoski, the effects of the economic situation in Germany, which he described as not encouraging, will likely be felt here around the end of first quarter and the start of the second quarter of next year.

“The discussion with the German Chamber of Commerce was enjoyable and, I would say, productive. We already have a few investments in the works. One of these is in the energy sector, a new wind park, an enormous investment in the municipalities of Kumanovo, Rankovce, Kriva Palanka, and Staro Nagorichane, amounting to over 400 million euros from Germany. The electricity generated will be sold on the market. Regrettably, that invesemtn has not been able to move forward for four years due to reasons I will not comment on publicly right now, the investigative authorities will need to look into it. However, we have assigned personnel from the Cabinet to oversee the daily progress of this investment, which will signify another step toward the green transition, namely the production of electricity from renewable sources,” Mickoski said, adding the effects of the economic situation in Germany, which he described as not encouraging, will likely be felt here around the end of first quarter and the start of the second quarter of next year.

He also referred to the conditions in our industry, noting that the figures have significantly improved in the last two months since the new government took office.

“On average, industrial production fell by 7 percent in the second quarter. In the first two months of the third quarter - July and August - for which we have data available, production has increased by 1.1 percent on average, representing a net increase of 8.1 percent compared to the second quarter. In July, it increased by 3.8 percent, while in August, it fell by 1.6 percent, resulting in an average growth of 1.1 percent. Additionally, the manufacturing industry also experienced growth in both months of the third quarter; in July, it grew by 3.8 percent, and in August, I believe it was 1.1 percent, although that should be verified. Exports in August compared to August last year increased by 12.2 percent, while imports decreased by 1.6 percent, so I would not agree that exports are declining, he noted.

“I expect GDP growth, according to the current parameters, to align with the forecasts of the IMF and the World Bank potentially ranking as one of the better performances in the region or Europe. However, we should wait until December, when the figures for the third quarter are released. Nevertheless, I anticipate that growth in the third and fourth quarters will surpass three percent, considering the accelerated pace of capital investments,” the Prime Minister Mickoski noted.

Photo/video: MIA