North Macedonia
The North Macedonian economy grew by 2.3% year on year in 2018 on the back of strong export growth and a pick-up in private consumption. The approval by the Greek Parliament of the new official name of North Macedonia was a major positive political development. Improved political stability will boost investor confidence and promote robust investment growth. Overall GDP will grow by about 3% p.a. during 2019-2021.
| FORECAST* | ||||||
|---|---|---|---|---|---|---|
| Main Economic Indicators | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
| Population, 1000 persons | 2072 | 2075 | 2095 | . | . | . |
| GDP, real change in % | 2.8 | 0.2 | 2.7 | 3.0 | 3.0 | 3.0 |
| GDP per capita (EUR at PPP) | 10800 | 10800 | 11500 | . | . | . |
| Gross industrial production, real change in % | 3.4 | 0.2 | 5.4 | . | . | . |
| Unemployment rate - LFS, in %, average | 23.7 | 22.4 | 21.0 | 20.0 | 20.0 | 19.0 |
| Average gross monthly wages, EUR | 533 | 547 | 579 | . | . | . |
| Consumer prices, % p.a. | -0.2 | 1.4 | 1.5 | 2.0 | 2.0 | 2.0 |
| Fiscal balance in % of GDP | -2.7 | -2.8 | -2.0 | . | . | . |
| Public debt in % of GDP | 48.7 | 47.7 | 46.8 | . | . | . |
| Current account in % of GDP | -2.9 | -1.0 | -0.3 | -1.1 | -2.4 | -3.0 |
| FDI inflow, EUR mn | 495 | 351 | 560 | . | . | . |
| Gross external debt in % of GDP | 74.7 | 73.6 | 73.7 | . | . | . |
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
NORTH MACEDONIA: Solving name dispute to boost investor confidence
Olga Pindyuk
in: Moving Into the Slow Lane
wiiw Forecast Report No. Spring 2019, March 2019 , pp. 116-118
Details and Buy
Monthly Report No. 6/2018
Vasily Astrov, Rumen Dobrinsky, 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. 6, June 2018
27 pages including 1 Table and 1 Figure