## Former Yugoslav Republic of Macedonia: Recent Economic Developments

_IMF Staff Country Reports, June 8, 1995_

## Source details

**Canonical URL:** [Former Yugoslav Republic of Macedonia: Recent Economic Developments](https://www.imf.org/en/publications/cr/issues/2016/12/30/former-yugoslav-republic-of-macedonia-recent-economic-developments-528)

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## Bibliographic details
- Published: June 8, 1995
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451825961.002

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### Summary and scope
- 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 and monetary policy (1994)
- 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.

### Fiscal measures and public sector balance
- 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.

### Output and industry
- There was a 50 percent drop in measured industrial production between 1990 and 1994.

### Subject coverage and keywords
- 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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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/30/former-yugoslav-republic-of-macedonia-recent-economic-developments-528_