We are starting 2025 without external driving factors

An analysis of macroeconomic indicators for November last year demonstrates a continued decline in economic activity. At the same time, the growth was provided by several main areas: trade, foreign trade turnover, with some fluctuations in construction, services, and industry. The main growth contributors were external factors, a reduced or absent role of which was reflected in the November figures.

Accordingly, in November 2024, the cumulative growth of the economic activity index was 7.4%, and the twelve-month growth was 1.2%. Of course, there is no data for December yet, but the trends for the whole year and especially for the end of the year indicate that there will be no significant changes in December either, perhaps only in the service and trade sectors due to seasonality.

So, 2024 is characterized by a steady decline in economic activity due to weakening external factors. This applies to both twelve-month and cumulative growths.

In fact, we are starting 2025 with little or no external influences, perhaps also due to the consistent actions of the authorities aimed at filling the budget.