{
  "title": "Former Yugoslav Republic of Macedonia: Recent Economic Developments",
  "publication": "IMF Staff Country Reports, June 8, 1995",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/30/former-yugoslav-republic-of-macedonia-recent-economic-developments-528",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2016/12/30/former-yugoslav-republic-of-macedonia-recent-economic-developments-528",
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  "summary": "This paper reviews economic developments in the Former Yugoslav Republic of Macedonia during 1990–95. The financial stabilization in 1994 was a result of three key policy changes.",
  "sections": [
    {
      "heading": "Summary and scope",
      "content": "- Reviews economic developments in the Former Yugoslav Republic of Macedonia during 1990–95.\n- Prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country.\n- In releasing this document for public use, confidential material may have been removed at the request of the member."
    },
    {
      "heading": "Financial stabilization and monetary policy (1994)",
      "content": "- Financial stabilization in 1994 was a result of three key policy changes.\n- The National Bank abolished its system of passively rediscounting selective commercial bank credits.\n- The emphasis of monetary policy was switched to inflation control."
    },
    {
      "heading": "Fiscal measures and public sector balance",
      "content": "- A broad range of fiscal measures ensured a decline in the public sector deficit from 11 percentage points of gross social product in 1993 to 3 percentage points in 1994."
    },
    {
      "heading": "Output and industry",
      "content": "- There was a 50 percent drop in measured industrial production between 1990 and 1994."
    },
    {
      "heading": "Subject coverage and keywords",
      "content": "- Subject areas: Banking, Employment, Expenditure, Exports, Imports, International trade, Labor, Monetary base, Money, Pension spending.\n- Keywords retained from the source: central government, CR, Eastern Europe, Employment, enterprise sector, exchange rate, Exports, FYRM authorities, gross investment, Imports, ISCR, loss-making enterprise, Monetary base, monetary policy, Pension spending, personal income, rate of inflation, U.S. dollar, worker-managed firm."
    }
  ],
  "bullets": [
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    "Published: June 8, 1995",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451825961.002",
    "Reviews economic developments in the Former Yugoslav Republic of Macedonia during 1990–95.",
    "Prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country.",
    "In releasing this document for public use, confidential material may have been removed at the request of the member.",
    "Financial stabilization in 1994 was a result of three key policy changes.",
    "The National Bank abolished its system of passively rediscounting selective commercial bank credits.",
    "The emphasis of monetary policy was switched to inflation control.",
    "A broad range of fiscal measures ensured a decline in the public sector deficit from 11 percentage points of gross social product in 1993 to 3 percentage points in 1994.",
    "There was a 50 percent drop in measured industrial production between 1990 and 1994.",
    "Subject areas: Banking, Employment, Expenditure, Exports, Imports, International trade, Labor, Monetary base, Money, Pension spending.",
    "Keywords retained from the source: central government, CR, Eastern Europe, Employment, enterprise sector, exchange rate, Exports, FYRM authorities, gross investment, Imports, ISCR, loss-making enterprise, Monetary base, monetary policy, Pension spending, personal income, rate of inflation, U.S. dollar, worker-managed firm."
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