North Macedonia overview

Dump tracks

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

Current EBRD forecast for real GDP growth in North Macedonia in 2018: 2.7%
Current EBRD forecast for real GDP growth in North Macedonia in 2019: 3.0%

After almost zero growth in 2017, the economy expanded by 2.7 per cent on the back of strong growth in exports and recovery of consumption, both private and public. Robust export performance came as a result of stronger activity of both FDI-related and traditional industries (machinery and transport equipment, chemicals, iron and steel, furniture), helping to reduce the current account deficit to 0.4 per cent of GDP. Net FDI also strengthened (to 5.8 per cent of GDP) thanks to foreign capital inflows in manufacturing and services, but total investment recorded a decline due to the postponement of large infrastructure projects and stagnating construction.