North Macedonia overview

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In North Macedonia we focus on:

  • Supporting Competitiveness by Enhancing Value Chains, Upskilling the Workforce, and Strengthening Governance;
     
  • Strengthening Regional Integration, Soft Connectivity and Support EU Approximation;
     
  • Supporting Green Economy Transition through a More Sustainable Energy Mix and Greater Resource Efficiency.
     

The EBRD's latest strategy for North Macedonia was adopted on 22 May 2019

North Macedonia's policy response to the coronavirus crisis

The EBRD is monitoring North Macedonia's policy response to the coronavirus pandemic. Our biweekly publication identifies the major channels of disruption as well as selected impact and response indicators.

Learn more

Current EBRD forecast for real GDP growth in North Macedonia in 2022: 3.0% 

Current EBRD forecast for real GDP growth in North Macedonia in 2023: 3.0%

The economy rebounded in 2021 following a 6.1 per cent contraction in 2020, with GDP up by 4 per cent in 2021 driven by both domestic and external demand. Household consumption was supported by rising wages, credit growth and cash remittances from Macedonians employed abroad.

Although export of goods grew on the back of the strong manufacturing sector, its positive contribution to GDP was outstripped by a rise in imports due to the strong increase in domestic demand, rising commodity prices and dependence of production in the free economic zones on imported products.
 
 
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