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In the short run, some recovery can be expected due to some pick up in investments, public and private, and the continuing positive contribution of the net exports. In the medium run growth should speed up a bit on the assumption that both the EU and the local markets will improve. Additional fiscal consolidation is not contemplated, though fiscal stimulus is not to be expected either. The policy makers will continue to care for internal stability and wait for the tide, when and if it comes, to lift their boat too.
|Main Economic Indicators||2010||2011||2012||2013||2014||2015|
|Population, 1000 persons.||2055||2059||2061||.||.||.|
|GDP, real change in %||2.9||2.8||-0.4||2.0||3.0||3.0|
|GDP per capita (EUR at PPP)||8700||8900||9000||.||.||.|
|Gross industrial production, real change in %||-4.8||6.9||-2.7||.||.||.|
|Unemployment rate - LFS, in %, average||32.0||31.4||31.0||29.0||29.0||28.0|
|Average gross monthly wages, EUR||491||497||498||.||.||.|
|Consumer prices, % p.a.||1.6||3.9||3.3||3.0||3.0||3.0|
|Fiscal balance in % of GDP||-2.4||-2.5||-3.9||.||.||.|
|Public debt in % of GDP||34.8||35.0||36.0||.||.||.|
|Current account in % of GDP||-2.0||-2.5||-3.0||-4.0||-6.0||-6.0|
|FDI inflow, EUR mn||160||337||72||.||.||.|
|Gross external debt in % of GDP||58.2||64.9||69.4||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
Macedonia: Stagnating on
in: Animal Spirits still Dimmed: Slow Recovery Expected
wiiw Current Analyses and Forecasts No. 12, July 2013 , pp. 107 Details and Buy
Monthly Report No. 11/2013
Vasily Astrov, Vladimir Gligorov, Peter Havlik, Mario Holzner and Olga Pindyuk
wiiw Monthly Report No. 11, November 2013
38 pages including 17 Tables Details