This year’s disappointing growth of at most 2% is due to the prolonged political crisis. Medium-term prospects have improved, though they are dependent on the political ability of the new government. Assuming that stability is preserved, next year should see growth of 3%, which should edge up towards 3.5% in the medium run, driven mostly by investment, both private and public.

map Macedonia
Main Economic Indicators201420152016201720182019
Population, 1000 persons206720702072...
GDP, real change in %
GDP per capita (EUR at PPP)100001050011100...
Gross industrial production, real change in %
Unemployment rate - LFS, in %, average28.026.123.723.023.023.0
Average gross monthly wages, EUR508522533...
Consumer prices, % p.a.-0.3-0.3-
Fiscal balance in % of GDP-4.2-3.4-2.7...
Public debt in % of GDP45.746.648.4...
Current account in % of GDP-0.5-2.0-2.7-1.0-0.8-0.7
FDI inflow, EUR mn37262495...
Gross external debt in % of GDP70.069.374.2...

Basic data are continuously updated.

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


MACEDONIA: Democratisation is not costless

Vladimir Gligorov
in: CESEE Back on Track to Convergence
wiiw Forecast Report No. Autumn 2017, November 2017 , pp. 93-95
Details and Buy


Monthly Report No. 7-8/2017

Vasily Astrov, Rumen Dobrinsky, Vladimir Gligorov, Richard Grieveson, Doris Hanzl-Weiss, Peter Havlik, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2017
27 pages including 1 Table and 2 Figures