Fiscal Balance in North Macedonia
North Macedonia - Fiscal BalanceFollowing a robust expansion in Q2, the economic recovery likely continued in Q3, albeit at a softer pace. While industrial sector activity tumbled in the quarter, the tourist sector had a fairly strong performance and retail sales held up relatively well. On the political front, the ruling left-wing SDSM party accepted Prime Minister Zoran Zaev’s resignation in late November. The party will hold an election on 12 December to pick his successor, with Zaev remaining as caretaking prime minister. Meanwhile, in early November the government approved the 2022 draft budget, which sees the fiscal deficit reducing to 4.3% of GDP. Authorities also recently declared a 30-day state of crisis to address difficulties in power supply. Lastly, on 5 November Fitch Ratings affirmed the country’s 'BB+' rating with a negative outlook, highlighting its credible macroeconomic policies but noting downside risks associated with weak public finances.
North Macedonia - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-3.5||-2.7||-2.7||-1.8||-2.0|
5 years of economic forecasts for more than 30 economic indicators.
Source: Ministry of Finance
North Macedonia Facts
|Exchange Rate||54.86||-0.56 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 07|
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