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 23.40 23 22.6 22.2 22 16.5 percent [+]
Inflation Rate 0.60 0.2 0.6 0.8 1.1 1.8 percent [+]
Interest Rate 3.75 3.75 3.75 3.75 3.5 2.75 percent [+]
Balance of Trade -201662.00 -182086 -182737 -182320 -173000 -160000 USD Thousands [+]
Government Debt to GDP 38.40 40.73 38.18 35.62 33.07 32.92 percent [+]
MARKETS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Stock Market 2275.33 2110 2080 2060 2040 1720 points [+]
Currency 58.00 60.2 60.79 61.38 61.97 70.82 [+]
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 156911.00 151372 158029 166104 161917 195684 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 23.40 23 22.6 22.2 22 16.5 percent [+]
Employed Persons 727985.00 733665 736739 742556 747907 794726 [+]
Unemployed Persons 221959.00 215233 211437 207753 204187 168945 [+]
Wages 32877.00 32667 32665 32664 32664 32664 MKD/Month [+]
Population 2.07 2.06 2.06 2.06 2.06 2.06 Million [+]
Part Time Employment 30.40 32.97 33.76 34 33.77 33.79 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 56.58 56.31 56.3 56.35 56.32 55.95 percent [+]
Employment Rate 43.36 43.04 43.1 43.31 43.3 43.24 percent [+]
Full Time Employment 679.10 696 697 699 704 750 Thousand [+]
Wage Growth 2.70 2.15 1.64 1.72 1.68 1.95 percent [+]
PRICES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Inflation Rate 0.60 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 3.75 3.75 3.75 3.75 3.5 2.75 percent [+]
Banks Balance Sheet 543465.88 551999 559931 567702 575469 668540 NC Million [+]
Deposit Interest Rate 0.25 0.25 0.25 0.25 0.25 0.25 percent [+]
Money Supply M0 28193.80 27040 26959 27083 27120 27089 MKD Million [+]
Money Supply M1 111349.50 109170 112908 115872 118842 151507 MKD Million [+]
Money Supply M2 266777.00 268310 275501 280959 286397 332779 MKD Million [+]
Lending Rate 4.50 4.46 4.48 4.46 4.48 4.47 percent [+]
Central Bank Balance Sheet 170994.53 170962 173062 172656 172640 172654 NC Million [+]
TRADE Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Balance of Trade -201662.00 -182086 -182737 -182320 -173000 -160000 USD Thousands [+]
Exports 422440.00 411883 408601 411760 411699 411301 USD Thousands [+]
Imports 624103.00 603747 605850 605237 605807 605655 USD Thousands [+]
Current Account -56.20 -29.1 -28.92 -28.86 -28.86 -28.86 USD Million [+]
Current Account to GDP -1.40 -2.91 -2.96 -3.01 -3.06 -1.34 percent [+]
Capital Flows -53.90 -28.58 -26.65 -26.32 -26.25 -26.23 USD Million [+]
Foreign Direct Investment 14.05 51.93 48.75 49.89 49.62 49.64 EUR Million [+]
Gold Reserves 6.81 6.81 6.81 6.81 6.81 6.81 Tonnes [+]
Terrorism Index 1.86 2.2 2.27 2.33 2.4 2.63 [+]
External Debt 6914.63 7152 7286 7397 7480 8807 EUR Million [+]
Tourist Arrivals 421.00 675 755 629 644 666 Hundreds Person [+]
GOVERNMENT Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Government Debt to GDP 38.40 40.73 38.18 35.62 33.07 32.92 percent [+]
Government Budget -3.50 -2.73 -2.75 -2.76 -2.78 -3.99 percent of GDP [+]
Government Budget Value -2441.00 -1243 -1338 -1330 -1310 -1319 MKD Million [+]
Government Spending 23274.00 23666 23517 23615 23789 23731 MKD Million [+]
Government Revenues 15666.00 14259 14285 14276 14276 14277 MKD Million [+]
Government Debt 3485.80 3488 3586 3591 3538 3700 EUR Million [+]
Fiscal Expenditure 18107.00 15238 15219 15196 15191 15190 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 3.50 0.34 5.57 1.72 5.11 1.7 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 42.00 48.08 48.7 49.32 49.95 60.58 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 26.20 21.5 21.5 26.27 17.2 5.5 [+]
Ease of Doing Business 10.00 17.03 16.08 15.14 14.2 19.55 [+]
Steel Production 20.00 21.5 21.59 21.6 21.59 21.59 Thousand Tonnes [+]
CONSUMER Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Consumer Spending 100551.00 97180 102398 97204 102374 102237 MKD Million [+]
Retail Sales Yoy 6.40 8.88 9.54 9.37 9.31 9.33 percent [+]
Gasoline Prices 1.16 1.14 1.14 1.14 1.14 1.14 USD/Liter [+]
Consumer Credit 129321.00 131391 133377 135259 137041 152389 MKD Million [+]
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. 2/22/2017