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

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

Export (€ bn)

2013: 3.2;
2014: 3.7;
2015: 4.09;
2016: 4.4;
2017: 5.01;
2018: 5.9;
2019: 6.4

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