wiiw Forecast Reports

NORTH MACEDONIA: Pandemic mishandling and inadequate fiscal support take toll on the economy

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Branimir Jovanovic

in: No Quick Recovery in Sight, with Coronavirus Risks Looming Large
wiiw Forecast Report No. Autumn 2020, November 2020 , pp. 92-95

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Since May, North Macedonia has failed to contain the pandemic. The government has also not provided adequate fiscal support to the economy. That led to a decline in GDP in Q2 of 12.7% year on year, which was greater than expected. We are thus downgrading our GDP forecast for 2020 from -5% to -6%. Prospects for the future depend crucially on the government’s fiscal support and on management of the health aspects of the pandemic.

 

Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database

Countries covered: North Macedonia


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