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FYR Macedonia

Overview

FYR Macedonia Strategy

Focus areas

Country data

Population:: 2.0 million
Area:: 26,000 sq km
Capital:: Skopje
Currency:: Denar

Key developments and challenges

FYR Macedonia’s candidacy for EU membership remains stalled, as no date has yet been set for beginning negotiations on the European Union’s acquis communautaire. A resolution is important in order to maintain the reform momentum of recent years.

The government needs to build on its recent efforts to introduce business-friendly laws and enhance the country’s attractiveness to foreign investors. Further efforts are needed to enforce new laws and strengthen the judicial system.

The economy weathered the worst of the crisis in 2009, and economic performance this year has been improving gradually. A key challenge is to preserve the tight fiscal and prudent monetary policies that have delivered stability to the economy throughout the past decade.

More developments and challenges

Our work in FYR Macedonia

In FYR Macedonia our support to local and regional transport networks is promoting economic development and trade

FYR Macedonia

Key facts about the EBRD's work in FYR Macedonia

No. of projects	77
Net business volume	€964.8 million
Total project value	€2,040.4 million
Gross disbursement	€492.7 million
Portfolio in private sector	39%

View factsheet

Our strategy in FYR Macedonia

The Former Yugoslav Republic of Macedonia (FYR Macedonia) continues to meet the conditions specified in Article 1 of the Agreement Establishing the Bank.

FYR Macedonia has made further progress on key reforms, geared towards integration into the EU. After FYR Macedonia acquired formal status of an EU candidate country in December 2005 the European Commission recommended in October 2009 to open EU accession negotiations. The implementation of the Ohrid Framework Agreement, which ended the armed conflict in 2001, continues to support political stability in the country, highlighted by the smooth functioning of the current multi-ethnic governing coalition. Political stability has further increased due to the peaceful and orderly conduct of the latest elections in March and April 2009. However, the country still faces significant institutional and economic pre-accession reform challenges. The Bank aims to assist it in meeting these challenges successfully over the Strategy period.

Read strategy