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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

Efforts to improve the business environment and attract foreign investment have been stepped up. FYR Macedonia’s latest ranking on the 2012 World Bank’s Doing Business scores is impressive, and some major investors are showing interest, but important business climate issues such as judicial reform and corruption remain to be fully addressed.

Macroeconomic stability has been preserved. Growth in 2011 was close to 3 per cent and inflation and the government deficit were kept at low levels, but a clear slow-down is evident so far in 2012.

Privatisation of some of the remaining state-owned assets is proving difficult. The failure over the past year of the state’s efforts to sell some major companies highlights both the stringent tender conditions in some cases and the difficulties of offloading state-owned shares in the present climate.

More developments and challenges

Our work in FYR Macedonia

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.

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