Macedonia: Stable recovery, rising political tensions
(by Vladimir Gligorov)
in: Recovery - in Low Gear across Tough Terrain, wiiw Current Analyses and Forecasts No. 7, March 2011, pp. 80-82
In the short run, some speed-up of growth can be expected in Macedonia as external demand continues
to improve and that feeds into investment and consumption. At the same time, some deterioration of external balances could be expected, but that should not threaten the exchange rate and
the macroeconomic stability. Some growth of employment is also likely, though not enough to make
a noticeable dent in the rate of unemployment. A significant acceleration of growth cannot be expected
even in the medium term.