wiiw Current Analyses and Forecasts
Macedonia: Stability preserved
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in: Recovery: Limp and Battered
wiiw Current Analyses and Forecasts No. 8, July 2011 , pp. 91-93
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In Macedonia, the crisis has had a milder effect than in most other countries in the region. GDP decline was only 0.9% in 2009. Recovery was also unremarkable: GDP growth of only 0.7% in 2010. Some acceleration, about 2%, is expected for 2011. Unlike most other countries in the region, employment has been on the increase throughout the crisis, although the unemployment rate remains at a very high level: some 30%. In summary, the real economy creates the impression of stability, albeit at a low level of activity.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: North Macedonia, SEE