The current year’s growth may turn out to be disappointing owing to a slowdown in both consumption and investment. Nonetheless, the growth rate should prove to be among the highest in the region. Assuming the maintenance of political and social stability, the growth rate should remain at around 3% over the medium term. Faster growth is possible, if political stabilisation is assured after the early elections in April next year and significant economic improvements are achieved in the region.

map Macedonia
Main Economic Indicators201320142015201620172018
Population, 1000 persons.206420672080...
GDP, real change in %
GDP per capita (EUR at PPP)950010000....
Gross industrial production, real change in %
Unemployment rate - LFS, in %, average29.
Average gross monthly wages, EUR504508523...
Consumer prices, % p.a.2.8-0.3-
Fiscal balance in % of GDP-4.0-4.2-3.0...
Public debt in % of GDP40.245.946.0...
Current account in % of GDP-1.6-0.80.0-4.0-4.0.
FDI inflow, EUR mn30237300...
Gross external debt in % of GDP64.070.371.9...

Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.


MACEDONIA: Growth and stability trade-off, again

Vladimir Gligorov
in: Mixed Prospects: Consumption Leads Fragile Recovery in the CESEE Core – CIS Stumbles
wiiw Forecast Report No. Autumn 2015, , pp. 98-100
Details and Buy


Monthly Report No. 9/2015

Amat Adarov, Fatos Hoxha, Werner Laventure and Isilda Mara
wiiw Monthly Report No. 9,
47 pages including 3 Tables and 33 Figures