The German Economic Team at the German-Macedonian Business Summit 2025
On 12 June 2025, our colleagues Dr Ricardo Giucci, Marie Salopiata and Woldemar Walter attended the German-Macedonian Business Summit in Skopje, joining more than 300 representatives of the German and North Macedonian governments and business community.
The event, organised by AHK Nordmazedonien and Deutsch-Mazedonische Wirtschaftsvereinigung (DMWV), serves as an important platform aimed at strengthening the German-North Macedonian economic cooperation.
Dr Ricardo Giucci, head of the German Economic Team, delivered a keynote presentation on current economic developments in North Macedonia and the country’s economic relationship with Germany, drawing on our advisory work in the country and wider region.
He highlighted that North Macedonia’s economy grew by 2.8% in 2024 and is forecast to grow by 3.3% in 2025. This growth is driven by rising wages and pensions which are fuelling both consumption and public investment. At the same time, this expansionary fiscal policy has given rise to a number of challenges, including a projected budget deficit of 5.0% of GDP and persistent inflationary pressures in 2025.
Trade ties with the EU remain important for North Macedonia’s economy, with over 77% of the country’s exports destined for EU markets. Germany continues to be North Macedonia’s largest trading partner, accounting for 40% of exports and 11% of imports. German investors also play a significant role in the domestic economy, maintaining a strong presence in the automotive and service sectors. Overall, foreign direct investment inflows increased substantially in 2024, reaching EUR 1.25 bn or 7.5% of GDP.
The full economic monitor can be accessed here.
We thank AHK Nordmazedonien for the kind invitation and great organization of the summit. The German Economic Team will continue to support the ongoing reform processes through our advisory work, including an upcoming study on North Macedonia’s business climate and corresponding reform opportunities.
