Fiscal Balance in North Macedonia

North Macedonia Fiscal Balance | Economic News & Forecasts

North Macedonia - Fiscal Balance

National accounts data showed that the economy rebounded markedly in annual terms in Q2, although the reading was flattered by a low base effect. GDP jumped 13.1% year-on-year in the quarter, contrasting Q1’s 1.9% contraction, supported by a significant acceleration in household spending growth and a sharp bounce-back in investment activity. The external sector also performed well, with exports soaring by almost 50% compared to the same period of 2020. The recovery seemingly carried over into the third quarter. Retail sales continued to expand solidly in July-August, while tourist numbers almost doubled over the previous year in July, although they were still significantly down from 2019. Moreover, the debt-to-GDP ratio declined in July compared to June, boding well for fiscal metrics. On a less positive note, momentum in the industrial sector weakened considerably in July-August.

North Macedonia - Fiscal Balance Data

2015   2016   2017   2018   2019  
Fiscal Balance (% of GDP)-3.5  -2.7  -2.7  -1.8  -2.0  

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Note: Fiscal balance as % of GDP
Source: Ministry of Finance

North Macedonia Facts

Value Change Date
Exchange Rate54.86-0.56 %Jan 01
Stock Market0.10.0 %Jan 07

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