IMF Staff Country Reports

Former Yugoslav Republic of Macedonia: Recent Economic Developments

Publication Date:

June 8, 1995

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. The National Bank abolished its system of passively rediscounting selective commercial bank credits and 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.

Series:

Country Report No. 1995/050

Subject:

Banking Employment Expenditure Exports Imports International trade Labor Monetary base Money Pension spending

Notes:

This report on recent economic developments in the Former Yugoslav Republic of Macedonia was 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.