North Macedonia, with its open economy and reliance on key trading partners, was particularly affected by these overlapping crises. Understanding the diverse impacts of such shocks
On 23 July, parliament approved revisions to the 2025 budget that left the central government deficit target unchanged at 4% of GDP. The revision reallocated expenditures to
About North Macedonia Located on the Western Balkans region, North Macedonia is a country of origin, transit, and destination of migrants.
Macedonia witnessed another unprece-dented economic shock. Lockdowns and disruptions in global supply chains led to a contraction in GDP in 2020. The government responded with emergency fiscal
North Macedonia relies on coal and hydro for its electricity generation, having wind and solar in small amounts as part of the overall energy mix.
On the socio-economic aspects, the growth remains subdued and despite, Government measures, increased prices remain an acute problem for the Macedonian economy and the living
In an environment of uncertainty with little official data on the extent of business losses and disruptions to Macedonian enterprises, a joint survey was launched by the Organisation of
A legal entity is resident in North Macedonia if it is established in North Macedonia or if its headquarters are in North Macedonia. Non-resident companies are generally subject to tax on their Macedonian
North Macedonia''s key industrial sectors, including mining, textiles, automotive, and heavy industry, are confronting a fresh wave of layoffs, with
Meanwhile in North Macedonia, further delays to the construction of the interconnector from Greece have been reported 3 and the State Audit Office 4 has criticised the slow implementation of the
This paper examines the economic arrangements between the Republic of Macedonia and key international organizations such as the IMF, World Bank, and WTO, focusing on their influence on
In North Macedonia, a promising trend is emerging with the implementation of gender-responsive services at the local level. Several examples demonstrate the effective collaboration and
1. North Macedonia: Economic Growth and contrast with the rest of the region, as consolidation Real output remains about 7 percent below pre-pandemic trends. Public has lagged regional peers, and
North Macedonia North Macedonia''s growth is expected to reach 2.6% in 2025 as higher spending on public invest-ment projects is offset by slowing consumption and exports. The recent rise in trade
Article IV discussions focused on medium-term challenges. North Macedonia has seen a slowdown in convergence to the EU over the last decade, mainly driven by under-investment, high emigration,
North Macedonia is one of the most climate-vulnerable countries in the ECA region, as environmental degradation and extreme weather events pose a serious threat to its aging and poorly managed
This section shows the intra-regional loss factors, commonly known as marginal loss factors (MLFs), for financial year 2020-21, for every existing load or generation transmission connection point (identified
North Macedonia made mixed progress since Competitiveness Outlook (CO) 2021, advancing in seven of the 15 policy dimensions, regressing in five and stagnating in three. North Macedonia experienced
The National Bank of the Republic of North Macedonia (NBRNM) is implementing advanced transparency practices. The long-standing commitment to transparency noted by a number of
The reform agenda under the European Union''s Growth Plan was approved by the European Commission in October 2024. The Growth Plan for the Western Balkans, adopted by the European
Also, North Macedonia participates in the Coordinated Direct Investment Survey and in the Coordinated Portfolio Investment Survey. The authorities are working to resolve the long-standing discrepancy
1. North Macedonia continues to face sizeable economic challenges in an environment of successive shocks and elevated global uncertainty.
The Staff Report prepared by a staff team of the IMF for the Executive Board''s consideration on a lapse-of-time basis, following discussions that ended February 26, 2025, with the
Economic growth is picking up in 2024. The economy grew 2.1 per cent in 2023, down from 2.8 per cent in 2022, as weakening domestic demand was only partly offset by lower imports.
North Macedonia Key priorities for 2025 The adoption of implementing legislation for the Organic Budget Law (OBL) needs to be accelerated. The OBL, which will enter into force with the implementation of
Overview of key economic statistics. The statistical themes covered are: International trade, economic trends, foreign direct investment, external
NORTH MACEDONIA Growth strengthened in 2025, driven by highway construc-tion and services. Rising wages, together with food and ser-vices price increases kept inflationary pressures elevated.
North Macedonia has spent the past several years in geopolitical limbo. Although the country formally began accession talks with the European Union on July 19, 2022, by holding the inaugural
Although the country is largely aligned with international human rights standards, institutional capacity gaps and the lack of inter-sectoral coordination, along with insufficient public...
Contact us for competitive quotes on any of our fiber optic and telecom products
Get a Quote