Tag: IMF
Economy 26.10.24 | 11:34

Finance Minister Dimitrieska sees 3.7 growth rates in the coming years

Finance Minister Gordana Dimitrieska – Kocoska says that growth projection for 2024 will remain at the reduced level of 2.1 percent, but that Macedonia will grow at a faster rate in 2025 and in the subsequent years, of up to 3.7 percent. This estimate is based on the efficiency of the work of our...
Economy 27.06.23 | 13:02

IMF: There is room for higher salaries in the public sector, but watch for the inflation

Macedonia is in a process of economic recovery, with a real GDP growth projected to 2.1% this year, 3.4% in 2024, and retuning back to 2% in 2026, states the IMF Mission preliminary report, which monitored the  country from June 5 to June 9. “The public finances are on a good path to achieve the...
Economy 27.06.23 | 12:15

IMF: The Central Bank’s monetary policy aided the gradual decrease of the inflation

The inflation is slowing, aided by the lower prices of energy and food, but also as a result of the tightened monetary policy. The Central Bank’s monetary policy contributed to the stabilization of the inflationary expectations, and gradual decrease of the inflation,  are the conclusions of the...
Economy 14.04.23 | 18:23

IMF: Macedonia will have the lowest growth rate in the region in 2023

The International Monetary Fund estimates that Macedonia will have the lowest growth rate of the entire region in 2023. According to the IMF, Macedonia’s economy will grow by just 1.4 percent. Serbia, Bosnia and Albania will grow by about 2 percent and Kosovo and Montenegro will be above 3 percent. Meanwhile,...
Economy 31.01.23 | 11:09

IMF does not expect the global economy to slip into recession

The world economy will cope better than initially feared with the shocks from the war in Ukraine and high inflation, the International Monetary Fund said as it upgraded its forecast. The global growth outlook for 2023 was revised up by 0.2 percentage points to 2.9%, the IMF said in its World Economic...
Economy 23.11.22 | 12:32

Besimi: IMF Board approves PLL, first tranche of EUR 110 million

Macedonia will receive the first tranche of EUR 110 million after the International Monetary Fund (IMF) Executive Board approved a two-year arrangement for the country under the Precautionary and Liquidity Line (PLL) in the amount of about EUR 530 million. The policies we are implementing have enabled...
Economy 15.09.22 | 20:31

VMRO-DPMNE: Where is the IMF loan of 900 million euros with 1% interest?

In April 2022, at the spring meetings of the International Monetary Fund (IMF) and the World Bank (WB), the Minister of Finance Fatmir Besimi pompously announced that Macedonia receives a recommendation for access to the IMF’s prudential and liquidity credit line, no less than 900 million euros...
Economy 15.05.22 | 10:39

Government plans to issue a 600 million EUR bond?

Telma TV reports that the Government plans to issue another large euro denominated bond. According to their reports, the bond may reach as high as 600 million EUR and will be issued soon. This would be on top of the 900 million EUR the Government is seeking from the International Monetary Fund. And with...
World 14.03.22 | 19:35

IMF warns that the war in Ukraine can endanger Europe’s food supply

The International Monetary Fund is sounding warnings about global food supply, given the escalation of Russia’s war on Ukraine. IMF approved 1.4 billion USD in urgent aid to Ukraine, in an attempt to protect it from debt default. Disruption of the spring sowing season could endanger food security,...
World 30.06.21 | 11:13

IMF raises Hungary economic growth forecast to 6.2 %

The International Monetary Fund has revised its forecast of Hungary’s economic growth to 6.2 percent in 2021, from a projected 4.3 percent in May, Finance Minister Mihály Varga said on Tuesday, Daily News Hungary reported. In an assessment following a regular consultation, the IMF called Hungary’s...
Economy 09.11.20 | 22:30

Macedonia’s economy will contract by 5.4 percent in 2020

Macedonia is projected to have an economic decline of 5.4 percent in 2020. According to a report prepared by the IMF and the World Bank, Macedonia will be in the middle of the pack in the Balkans. Serbia is projected to be best in Europe, with a decline of just 1.5 percent, and Bulgaria will decline...
Macedonia Economy 16.10.20 | 19:18

IMF predicts a 5.4 percent contraction, one percent greater than what Zaev estimated

A new report from the International Monetary Fund estimates that the Macedonian economy will decline by 5.4 percent in 2020. This flies in the face of the comments made by Prime Minister Zoran Zaev, that the contraction will amount to 4.4 percent. In April, before the extent of the pandemic was fully...
Economy 23.09.20 | 14:45

Former Finance Minister Tevdovski leaves Macedonia, takes up a job in D.C.

Former Finance Minister Dragan Tevdovski is leaving the country and has taken up a job in D.C., with the International Monetary Fund, Kurir.mk reports. Tevdovski was in the Zaev Government from 2017 until August 2019, when he was replaced with Nina Angelovska. His signature attempt to raise taxes and...
Economy 10.09.20 | 15:01

Finance Minister Besimi, IMF officials discuss COVID-19 crisis, economic growth in online meeting

Finance Minister Fatmir Besimi in his first online meeting with IMF Mission Chief to Macedonia, Bergljot Bjornson Barkbu and IMF Resident Representative of the Western Balkans, Stephanie Eble discussed the COVID-19 crisis and its impact on the Macedonian economy. Talks also focused on the series of measures...
Economy 22.04.20 | 13:37

IMF predicts 4 percent drop in Macedonian economy

The International Monetary Fund in its latest report on the country predicts a 4 percent decline in the Macedonian economy. According to the IMF, the key to this situation is the coronavirus pandemic, as well as the possible spillover effects of the global recession on the country. The economic situation...
Economy 11.04.20 | 13:55

IMF approves 176 million EUR loan for Macedonia

The International Monetary Fund approved the a 176 million EUR loan for Macedonia in light of the coronavirus epidemic and its blow to the economy. IMF sees a 4 percent GDP drop in 2020, caused by the forced shut down of entire segments of the economy and the greatly reduced demand. “North”...
Economy 03.04.20 | 23:00

IMF loans 175.2 million EUR to Macedonia

The International Monetary Fund agreed to provide 175.2 millon EUR in loans to Macedonia, to help keep up the balance of payments during the coronavirus epidemic. The Macedonian Government said it will instruct the Finance Ministry to work with the Central Bank to implement the IMF loan.
Economy 13.11.19 | 22:07

VMRO leadership announces urgent economic reforms during meeting with regional IMF representatives

VMRO-DPMNE President Hristijan Mickoski met with a delegation from the IMF, led by the Stephanie EBle, head of the newly founded Western Balkan IMF office, and Bergljot Barkbu who leads the Macedonian office. The opposition party discussed the political and economic situation in Macedonia with the IMF...
Economy 17.10.19 | 11:05

IMF revises Macedonian economy growth rate to 3,2%

The International Monetary Fund (IMF) revised the growth rate of the Macedonian economy in 2019 to 3,2%, a 0,2% upgrade from the April outlook. The IMF expects growth of 3.4 percent next year and 3.5 percent by 2024. Of the countries in the region this year highest growth is expected in Kosovo –...
Economy 06.02.19 | 23:51

IMF: Macedonia to pay high price for the new increase in the minimum wage

The new increase in the minimum wage in Macedonia as a legal obligation can affect the increase in youth unemployment, warns the International Monetary Fund (IMF) in a separate analysis of the minimum wage in the country. It states that Macedonia can pay a high price from further ad hoc increase in the...

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