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Former Yugoslav Republic of Macedonia: Recent Economic Developments

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  • International Monetary Fund

Abstract

This paper reviews economic developments in the Former Yugoslav Republic of Macedonia during 1994–98. In 1994–95, the authorities reasserted control over monetary policy, stabilized the exchange rate, and undertook a substantial fiscal adjustment. As a result, price stability was restored by 1996 and the decline in output was arrested. Programs for recapitalizing banks and accelerating the process of enterprise adjustment and privatization began in 1995. In 1996, the economy started to pick up, but a surge in industrial output in late 1996, partly reflecting the restarting of the oil refinery, could not be maintained.

Suggested Citation

  • International Monetary Fund, 1998. "Former Yugoslav Republic of Macedonia: Recent Economic Developments," IMF Staff Country Reports 1998/082, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:1998/082
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=2732
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    Cited by:

    1. M. Wyzan, 1999. "Macedonian and Slovenian Trade after the Break-up of Former Yugoslavia: Focus on the European Union," Working Papers ir99018, International Institute for Applied Systems Analysis.

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