Former Yugoslav Republic of Macedonia: Third Review Under the Stand: By Arrangement and Request for Rephasing of Access: Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement

Volume/Issue: Volume 2008 Issue 107

Publication date: March 2008

ISBN: 9781451826142

$20.00

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Topics covered in this book

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Banks and Banking , Exports and Imports , Inflation , Money and Monetary Policy , Public Finance , ISCR , CR , inflation increase , inflation pressure , consumer price inflation , government , interest rate increase , executive board discussion , Inflation , Foreign direct investment , Currencies , Credit , Global

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Summary

Macedonia’s economic performance under the program has remained strong, reflecting the authorities’ commitment to build on the progress made and to advance the reform agenda. The average inflation rate was 2.3 percent, although it started to pick up recently owing to a relatively high increase in food prices, reflecting the global trend. On the expenditure side, the authorities will improve the quality of spending and redirect public spending to more productive uses, such as health, education, and infrastructure.