Economy of the Republic of Macedonia


Economy of the Republic of Macedonia

The breakup of Yugoslavia in 1991 deprived the Economy of the Republic of Macedonia, then its poorest republic (only 5% of the total federal output of goods and services), of its key protected markets and large transfer payments from the center. An absence of infrastructure, United Nations sanctions on its largest market Federal Republic of Yugoslavia, and a Greek economic embargo hindered economic growth until 1996.

Worker remittances and foreign aid have softened the subsequent volatile recovery period. GDP has increased each year except in 2001, rising by 5% in 2000. However, growth in 1999 was held down by the severe regional economic dislocations caused by the Kosovo war.

Successful privatization in 2000 boosted the country's reserves to over $700 million. Also, the leadership demonstrated a continuing commitment to economic reform, free trade, and regional integration. The economy can meet its basic food needs but depends on outside sources for all of its oil and gas and most of its modern machinery and parts. Inflation jumped to 11% in 2000, largely due to higher oil prices.


Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Geography of the Republic of Macedonia — Geography of Republic of Macedonia Continent Europe Region Balkan Peninsula Coordinates …   Wikipedia

  • Tourism in the Republic of Macedonia — is a large part of the economy of the Republic of Macedonia. The country s large abundance of natural and cultural attractions make the Republic of Macedonia suitable for tourism.The Republic of Macedonia receives about 700,000 tourists annually …   Wikipedia

  • Outline of the Republic of Macedonia — …   Wikipedia

  • Albanians in the Republic of Macedonia — Albanians (Albanian: Shqiptarë , Macedonian: Албанци, Albanci ) are the largest ethnic minority in the Republic of Macedonia. The largest Albanian communities are in the areas of Tetovo ( Tetova ), Skopje ( Shkupi ), Gostivar ( Gostivari ), Debar …   Wikipedia

  • Music of the Republic of Macedonia — Part of a series on Macedonians …   Wikipedia

  • Army of the Republic of Macedonia — Template:Cleanup1 Army of the Republic of Macedonia Армија на Република Македонија Emblem of the Army of the Republic of Macedonia Current form 1991 …   Wikipedia

  • Demographics of the Republic of Macedonia — Demographics of the Republic of Macedonia, Data of FAO, year 2005 ; Number of inhabitants in thousands. This article is about the demographic features of the population of Republic of Macedonia, including population density, ethnicity,… …   Wikipedia

  • Cinema of the Republic of Macedonia — Milčo Mančevski, Macedonian director European cinema  • Cinema of Albania  • …   Wikipedia

  • Telecommunications in the Republic of Macedonia — Telephones main lines in use: 550,000 (2005) Telephones mobile cellular: 2,079,000 (2008) Telephone system: domestic: NA international: NA Radio broadcast stations: AM 29, FM 20, shortwave 0 (1998) Radios: 410,000 (1997) Television broadcast… …   Wikipedia

  • Turks in the Republic of Macedonia — There are 77,959 Turks in the Republic of Macedonia, who live in the municipalities of Centar Župa and Plasnica (in which they form the majority of population), and also much smaller numbers in the cities of Bitola, Gostivar, Tetovo, and Resen.… …   Wikipedia


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.