Economic Indicators

Currency: Macedonian Denar pegged to the €  (€1= MKD 61.5)
GDP: $ 10.4Bn (2011)
GDP per capita: $ 5,057.97 USD (2011)
Credit ratings: Standard & Poor’s: BB / Fitch: BB+
Government deficit/debt: Budget Deficit, 2011: 2 % of GDP/State Debt, 2012: 32.1% of GDP
Average gross salary: € 498 Month (2012)

  • Stable GDP growth of around 3% - 5%
  • Low inflation rate of 2% - 3% on average.
  • Strong fiscal discipline confirmed by the international financial institutions
  • A well-functioning coordination between fiscal and monetary policy.
  2007 2008 2009 2010 2011
Real GDP Growth (%) 6,1 5,0  -0,9  2,9 3,1
Annual Inflation (%) 2,3 8,3 -0,8 1,6 3,9
Central Budget Balance as % of GDP 0,6 -0,9 -2,7 -2,4 -2,5
Coverage of Imports by Exports (%) 67,4 60,6 55,5 62,9 65,5
FDI (US$ m) 699 587 197 211 463
Unemployment Rate (%) 34,9 33,8 32,2 32,0 31,4