Macedonia | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 3.90 0.8 0.7 0.6 0.5 0.6 percent [+]
Unemployment Rate 23.10 23 22.6 22.2 22 16.5 percent [+]
Inflation Rate 0.20 0.2 0.6 0.8 1.1 1.8 percent [+]
Interest Rate 3.50 3.75 3.75 3.75 3.5 2.75 percent [+]
Balance of Trade -119844.00 -156969 -161659 -168329 -173000 -160000 USD Thousands [+]
Government Debt to GDP 40.90 37.85 39.79 41.73 43.67 43.11 percent [+]
MARKETS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Currency 56.62 58.69 59.27 59.85 61.02 69.73 [+]
Stock Market 2257.52 2280 2260 2240 2190 1850 points [+]
GDP Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 3.90 0.8 0.7 0.6 0.5 0.6 percent [+]
GDP Annual Growth Rate 2.40 2.4 2.6 2.5 2.5 2.4 percent [+]
GDP 10.09 10.59 10.63 10.51 10.87 13.65 USD Billion [+]
GDP Constant Prices 160309.00 156668 161822 169706 172074 193117 MKD Million [+]
Gross Fixed Capital Formation 129095.00 136593 138569 140545 142522 172570 MKD Million [+]
GDP per capita 5093.84 5071 5151 5230 5309 6128 USD [+]
GDP per capita PPP 12724.68 12669 12866 13064 13261 15309 USD [+]
LABOUR Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Unemployment Rate 23.10 23 22.6 22.2 22 16.5 percent [+]
Employed Persons 731107.00 732550 736354 742232 747113 794476 [+]
Unemployed Persons 219148.00 214906 211030 207328 203721 167872 [+]
Wages 33441.00 33619 33383 33427 33483 33467 MKD/Month [+]
Population 2.07 2.06 2.06 2.06 2.06 2.06 Million [+]
Part Time Employment 40.30 33.68 34.44 35.04 34.64 34.67 Thousand [+]
Minimum Wages 231.40 234 234 234 234 242 EUR/Month [+]
Job Vacancies 6200.00 6155 6227 6225 6175 6216 [+]
Labor Force Participation Rate 56.59 56.41 56.35 56.39 56.41 56.08 percent [+]
Full Time Employment 677.90 694 695 696 701 746 Thousand [+]
Employment Rate 43.54 43.42 43.39 43.51 43.59 43.53 percent [+]
Wage Growth 1.90 0.95 0.77 1.29 1.67 1.37 percent [+]
PRICES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Inflation Rate 0.20 0.2 0.6 0.8 1.1 1.8 percent [+]
Consumer Price Index CPI 109.94 110 110 110 110 110 Index Points [+]
GDP Deflator 101.90 103 102 102 102 102 percent [+]
Producer Prices 104.80 105 106 108 109 121 Index Points [+]
Producer Prices Change 1.80 0.6 1 1.2 1.5 2.4 percent [+]
Inflation Rate Mom 0.60 0.22 0.16 0.17 0.17 0.17 percent [+]
Food Inflation -1.00 -1.2 -1.14 -1.1 -1.09 -1.09 percent [+]
MONEY Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Interest Rate 3.50 3.75 3.75 3.75 3.5 2.75 percent [+]
Banks Balance Sheet 538339.81 544626 552374 559972 567575 658741 NC Million [+]
Deposit Interest Rate 0.25 0.25 0.25 0.25 0.25 0.25 percent [+]
Money Supply M0 26894.20 26994 26900 27036 27073 27040 MKD Million [+]
Money Supply M1 105599.80 108164 111709 114457 117267 147712 MKD Million [+]
Money Supply M2 261675.50 263403 269762 273921 278182 314447 MKD Million [+]
Lending Rate 4.50 4.46 4.48 4.46 4.48 4.47 percent [+]
Central Bank Balance Sheet 185693.98 185671 185742 185568 185579 185560 NC Million [+]
TRADE Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Balance of Trade -119844.00 -156969 -161659 -168329 -173000 -160000 USD Thousands [+]
Exports 343784.00 367743 360757 368730 369152 367836 USD Thousands [+]
Imports 463628.00 512363 507916 516109 514943 514834 USD Thousands [+]
Current Account -59.10 -34.89 -29.39 -29.4 -29.51 -29.51 USD Million [+]
Current Account to GDP -1.40 -2.91 -2.96 -3.01 -3.06 -1.34 percent [+]
Capital Flows -59.80 -31.81 -27.62 -26.86 -26.72 -26.69 USD Million [+]
Foreign Direct Investment 14.05 51.93 48.75 49.89 49.62 49.64 EUR Million [+]
Gold Reserves 6.88 6.88 6.88 6.88 6.85 6.86 Tonnes [+]
Terrorism Index 1.86 2.2 2.27 2.33 2.4 2.63 [+]
External Debt 7503.90 7546 7550 7815 7892 9483 EUR Million [+]
Tourist Arrivals 432.00 654 772 629 632 662 Hundreds Person [+]
GOVERNMENT Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Government Debt to GDP 40.90 37.85 39.79 41.73 43.67 43.11 percent [+]
Government Budget -3.50 -2.73 -2.75 -2.76 -2.78 -3.99 percent of GDP [+]
Government Budget Value -2138.00 -1058 -1554 -1473 -1440 -1461 MKD Million [+]
Government Spending 25368.00 24303 24408 24185 25198 25519 MKD Million [+]
Government Revenues 12585.00 14580 14104 14139 14146 14144 MKD Million [+]
Government Debt 3851.50 3927 4001 4075 4148 4983 EUR Million [+]
Fiscal Expenditure 14723.00 15622 15679 15597 15618 15625 MKD Million [+]
Military Expenditure 128.30 168 169 169 170 168 USD Million [+]
BUSINESS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Industrial Production -2.60 -2.76 0.55 0.82 1.44 2.21 percent [+]
Manufacturing Production 2.10 1.23 1.8 3.48 1.98 2.52 percent [+]
Changes in Inventories 44099.00 41340 42882 44424 45965 50875 MKD Million [+]
Corruption Index 37.00 39 38 37 36 34 Points [+]
Corruption Rank 90.00 66.73 67.49 68.25 69.01 78.58 [+]
Competitiveness Index 4.23 4.26 4.26 4.26 4.26 4.22 Points [+]
Competitiveness Rank 68.00 62 62 62 66 81 [+]
Business Confidence 25.30 21.5 21.5 24.77 17.2 5.5 [+]
Ease of Doing Business 10.00 17.03 16.08 15.14 14.2 19.55 [+]
Steel Production 21.20 17.63 17.57 17.54 17.61 17.6 Thousand Tonnes [+]
CONSUMER Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Consumer Spending 102555.00 97521 105988 102524 104175 104582 MKD Million [+]
Gasoline Prices 1.16 1.16 1.15 1.15 1.15 1.15 USD/Liter [+]
Consumer Credit 129723.00 130958 132752 134438 136035 149698 MKD Million [+]
Retail Sales Yoy 0.60 2.22 3.37 3.5 3.47 3.43 percent [+]
HOUSING Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Construction Output -28.20 -0.41 -2.98 3.05 2.18 2.3 percent [+]
Housing Index 92.70 92.23 92.32 92.27 92.14 92.16 Index Points [+]
Building Permits 363.00 266 265 265 265 265 [+]
TAXES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Corporate Tax Rate 10.00 10 10 10 10 10 percent [+]
Personal Income Tax Rate 10.00 10 10 10 10 10 percent [+]
Sales Tax Rate 18.00 18 18 18 18 18 percent [+]





Economic Forecasts for Macedonia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Macedonia economy. 3/29/2017