Economic Indicators

The economic performance of the Macedonian economy is expressed through stable GDP growth, the low inflation rate of < 2 % on average in the past 10 years, fiscal discipline confirmed by the international financial institutions, and well-functioning coordination between fiscal and monetary policy.

High Credit Ratings

  • Standard & Poor’s: BB- (stable outlook)
  • Fitch: BB+ (positive)

Low Inflation Rate (%)

  • 2013: 1.4
  • 2014: – 0.5
  • 2015: – 0.4
  • 2016: – 0.2
  • 2017: 2.4
  • 2018: 0.9
  • 2019: 0.4
  • 2020: 2.3

Stable currency

Macedonian Denar pegged to the DM/€ for the last 20 years (€1= MKD 61.5)

Foreign Direct Investments (€ M)

  • 2013: 229.4
  • 2014: 197.4
  • 2015: 202.8
  • 2016: 316.9
  • 2017: 180
  • 2018: 603.7
  • 2019: 363.3
  • 2020: 205.7

Export (€ bn)

  • 2013: 3.2
  • 2014: 3.7
  • 2015: 4.09
  • 2016: 4.4
  • 2017: 5.01
  • 2018: 5.9
  • 2019: 6.4
  • 2020: 5.8
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