Industrial output in North Macedonia declined by 9.4% in January 2026 compared to the same month the previous year, according to data released by the State Statistical Office on March 18, 2026.
The figures come as a contrast to reported income growth in the country. While consumers are experiencing rising prices in stores, average wages have increased significantly in recent years. The national statistics agency reports that the average salary in Bulgaria rose from 789 euros in 2021 to 1331 euros in 2025, representing a 66.8% increase. Over the same period, the consumer price index rose by 42.1%, meaning incomes have outpaced inflation.
Financial analyst Deyan Vasilev, speaking to NOVA NEWS, cautioned against interpreting the national averages as representative of individual household experiences. “Average figures supply a general trend, but the reality is different for different households. Some people have significantly increased their incomes, while others have received almost no increase,” he said. Vasilev highlighted the concept of “individual inflation,” explaining that for lower-income households, where food and essential goods constitute a larger portion of expenses, price increases are felt more acutely.
Vasilev also noted that Bulgarians have accumulated over 150 billion leva in bank deposits, with most individuals preferring conservative savings options like deposits or real estate. “Inflation is the most insidious thief – money in the bank with low returns loses value,” he stated. He suggested that long-term savings could be protected through investments in gold, stocks, or mutual funds. For shorter-term savings, he recommended keeping funds in a bank for easy access. For long-term goals, such as retirement savings, he advised diversified portfolios designed to outpace inflation over time.
“It is essential to always spend less than you earn and to create a habit of regular saving,” Vasilev advised. He also recommended establishing an emergency fund sufficient to cover six months of expenses, providing a financial cushion in case of job loss or unexpected costs. Remaining savings, he said, should be earmarked for specific goals and invested prudently.
The National Statistical Institute of Bulgaria published its Statistical Yearbook 2025, providing free access to statistical data on demographic processes and socio-economic and cultural life in Bulgaria from 2020 to 2024. The publication includes data on gross domestic product, investment, finance, balance of payments, and individual economic activities such as industry, agriculture, transport, communications, trade, and others. It also covers health, education, science, culture, justice, tourism, energy, geography, climate, and the environment.
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