Macedonia's political crisis may be past its worst after an early election, scheduled for June 5, was postponed indefinitely. The decision to call off the snap election greatly improves the prospect of holding 'free and fair' elections in future, and could help bring an end to the country's political crisis, and put EU accession talks back on track.
Macedonia's economy will continue to grow at a strong rate over the coming years, aided by robust manufacturing activity, rising investment, and a stable household sector.
Major Forecast Changes
We have raised our real GDP growth forecast from 2.8% to 3.6% for 2016, and from 2.6% to 2.9% for 2017 amid strengthening manufacturing activity and signs of resilience in Germany's economy.
A deeply divided legislature and elevated ethnic tensions threaten to delay further structural reforms over the coming years.
Germany's economic rebalancing process could see demand for Macedonia's manufactured goods exports decline over the coming years, leading to lower goods export growth and fixed investment.
|Real GDP growth, % y-o-y||3.5||3.7||3.6||2.9|
|Nominal GDP, USDbn||11.3||10.1||9.1||9.7|
|Consumer price inflation, % y-o-y, eop||-0.6||-0.3||0.8||1.9|
|Exchange rate MKD/USD, eop||50.70||56.50||55.90||53.50|
|Budget balance, % of GDP||-4.2||-3.5||-3.6||-3.3|
|Current account balance, % of GDP||-0.8||-1.4||-2.0||-2.0|
Assess your risk exposure in Macedonia with our 100% independent forecasts assessing the pace and stability of this key market. Backed by trusted data from BMI Research's 52 million data point economic forecast model, this report will allow you to measure political, economic, business environment and operational risks in Macedonia with confidence.
Your subscription service includes:
- Delivery of the report in print and PDF
- Online access for 12 months
- The functionality to translate your online report into your choice of 10 languages - Arabic, Chinese, French, German, Italian, Japanese, Korean, Portuguese, Russian and Spanish
- The ability to export data and graphs from the online report directly into your workflow
- The support of a dedicated Account Manager to answer any questions you might have about your subscription
- Access to our team of leading analysts who will be happy to answer any questions you might have about the data and forecasts included in this report