Former Yugoslav Republic of Macedonia: Recent Economic Developments

September 23, 1998

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Former Yugoslav Republic of Macedonia: Recent Economic Developments, (USA: International Monetary Fund, 1998) accessed November 21, 2024

Summary

This paper reviews economic developments in the Former Yugoslav Republic of Macedonia during 1994–98. In 1994–95, the authorities reasserted control over monetary policy, stabilized the exchange rate, and undertook a substantial fiscal adjustment. As a result, price stability was restored by 1996 and the decline in output was arrested. Programs for recapitalizing banks and accelerating the process of enterprise adjustment and privatization began in 1995. In 1996, the economy started to pick up, but a surge in industrial output in late 1996, partly reflecting the restarting of the oil refinery, could not be maintained.

Subject: Banking, Commercial banks, Credit, Employment, Expenditure, Financial institutions, Foreign exchange, Labor, Social security contributions, Wages

Keywords: Commercial bank, Commercial banks, CR, Deutsche mark, Eastern Europe, Economic system, Employment, Exchange rate, Foreign currency, Giro account, Gross domestic product, Interest rate, ISCR, Wages

Publication Details

Pages:

126
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1998/082
Stock No:

1MKDEA0011998
ISBN:

9781451825985
ISSN:

1934-7685

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