Growth has been speeding up, yet is bound to flatten somewhat in the current year as well as in the medium term. This is primarily due to a slowdown in public investments and growing concern over political stability. Additional risks are linked to the crisis in Greece, despite their not being easy to forecast. Nonetheless, barring major economic improvements in the region, growth should settle down at around 3%.

map Macedonia
Main Economic Indicators201220132014201520162017
Population, 1000 persons.206120642068...
GDP, real change in %-
GDP per capita (EUR at PPP)9200950010100...
Gross industrial production, real change in %-
Unemployment rate - LFS, in %, average31.
Average gross monthly wages, EUR498504508...
Consumer prices, % p.a.3.32.8-
Fiscal balance in % of GDP-3.9-4.0-3.9...
Public debt in % of GDP38.340.445.1...
Current account in % of GDP-2.9-1.8-1.3-4.0-4.0-4.0
FDI inflow, EUR mn26130686...
Gross external debt in % of GDP68.264.369.8...

Basic data are continuously updated.

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


MACEDONIA: Growth and instability

Vladimir Gligorov
in: A Time of Moderate Expectations
wiiw Forecast Report No. Spring 2015, March 2015 , pp. 89-91
Details and Buy


Monthly Report No. 7-8/2014

Vasily Astrov, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Michael Landesmann, Sebastian Leitner, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July 2014
23 pages including 1 Table and 2 Figures