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Former Yugoslav Republic of Macedonia: Staff Report for the 2011 Article IV Consultation

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  • International Monetary Fund

Abstract

This 2011 Article IV Consultation highlights that Macedonia is poised to achieve low but positive growth under the baseline scenario of a shallow recession in the euro area. Under a downside scenario, growth would be weaker, and external financing pressures could arise. In the near term, the government would need to reduce expenditure growth to meet the 2012 deficit target. A key longer-term challenge would be to reconcile the competing objectives of higher public investment and increases in pensions and public wages while preserving low public debt and low taxes.

Suggested Citation

  • International Monetary Fund, 2012. "Former Yugoslav Republic of Macedonia: Staff Report for the 2011 Article IV Consultation," IMF Staff Country Reports 2012/133, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2012/133
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