In a speech at the fourth regional Marili Business Forum, Vice Governor Ana Mitreska of the National Bank of the Republic of North Macedonia pointed to OECD findings that North Macedonia has made the strongest progress in services supporting small and medium-sized enterprises (SMEs), while arguing that digital transformation and innovation are key to lifting SME productivity. OECD assessments were cited as placing the country above the Western Balkans average on finance, innovation policy and internationalisation, with further scope to improve entrepreneurial learning, women’s entrepreneurship and business skills. Labour productivity in domestic SMEs was described as 3.5 times lower than the European Union average, although some convergence was noted, with productivity growth of 20% compared with 2% in the EU. Data referenced in the speech indicated that 60% of firms in this segment have a very low digital intensity index versus 30% in the EU, while survey evidence pointed to skilled labour availability, finding customers and production costs as the main constraints on growth; access to finance was identified as a challenge by 8% of SMEs. Mitreska also outlined central bank-related initiatives framed as indirectly supporting SMEs, including the Strategy for Financial Education and Inclusion, an European Bank for Reconstruction and Development project focused on women’s entrepreneurship and financial inclusion, support for green lending, and SEPA membership, which was linked to faster payment services, lower cross-border payment costs and easier participation in cross-border trade.

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