Tag: World Bank
Macedonia 01.12.23 | 14:10

Conference honoring the World Bank and Macedonia’s thirty years of relationship

Welcome speeches will be made by Prime Minister Dimitar Kovachevski, Dean of the Faculty of Economics Predrag Trpeski, and Vice President for the Europe and Central Asia Region of the World Bank Antonella Bassani. Two panels on human capital and demographic challenges are also on the schedule. Deputy...
Economy 21.10.23 | 19:58

Macedonia has the highest inflation and the lowest growth rate in the region

The latest World Bank report shows that the Macedonian economy has the worst performance in the region. Prime Minister Kovacevski predicted an inflation rate of 5.6 percent in 2023, but the report sets it at almost twice that number. The economic growth, on the other hand, is at 1.8 percent – the...
Macedonia 13.10.23 | 12:29

Five-year program marks the resumption of the Besimi and World Bank partnership

The economic outlook for Macedonia is displaying positive trends. During the first half of 2023, the economy has proven to be more resilient than initially anticipated, with inflation dropping to single digits. Additionally, budgetary policies have been successfully executed in line with projections,...
Economy 12.01.23 | 14:18

World Bank downgrades Macedonia’s 2023 GDP growth to 2.4 percent

The World Bank has put its projection over Macedonia’s GDP growth in 2023 to 2.4 percent, down by 0.7 percent compared to its June 2022 report. The Government’s projection for the economic growth of the country for this year is 2.9 percent. The WB has also made a downward revision of the Macedonian...
Economy 04.10.22 | 22:51

World Bank: Macedonia is on the verge of a perfect economic storm

Macedonia is on the verge of a perfect economic storm. The economy faces the risk of stagflation, i.e. reduction of production when prices increase, the World Bank says in its latest report. In it, the projection for economic growth of the country has been reduced. It is expected to reach 2.1% this year,...
Economy 08.06.22 | 12:05

World Bank downgrades 2022 growth projection for Macedonia to 2.7 percent

The World Bank is projecting a 2.7 percent Gross Domestic Product (GDP) growth for the Macedonian economy in 2022, followed by 3.1 percent in 2023. The World Bank, in its June report on the global economic outlook, downgraded the previous economic projections for the country, this year by 1.0 percent,...
Economy 14.03.22 | 19:31

Debt level is becoming alarming, Mickoski tells WB representative Paolucci

VMRO-DPMNE President Hristijan Mickoski met with the director of the office of the World Bank for Macedonia and Kosovo Massimiliano Paolucci. During the meeting, Mickoski warned about the alarming levels of debt and insisted that Macedonia must quickly re-establish fiscal rules, which is something WB...
Economy 09.06.21 | 13:14

World Bank projects Macedonian economy to rise by 3.6 percent in 2021

In its latest report, the World Bank is forecasting a 3.6-percent GDP growth of the Macedonian economy in 2021, followed by 3.5 percent in 2022 and 3.4 percent in 2023. As for the countries in the region, Albania is projected to have GDP growth of 4.4 percent in 2021, Bosnia and Herzegovina 2.8 percent,...
Economy 27.04.21 | 14:34

Historically highest public debt, address the matter, World Bank tells the Macedonian government

Growth in Albania, Bosnia and Herzegovina, Kosovo, Montenegro, Macedonia, and Serbia – the six countries of the Western Balkans – is expected to return in 2021, in the wake of the region’s worst economic downturn on record during 2020. Following the economic devastation brought on by the COVID-19...
Macedonia Economy 05.01.21 | 23:02

World Bank sees Macedonia growing by 3.6 percent in 2020

The World Bank released its latest forecast, which sees Macedonia growing by just 3.6 percent in 2021 and 3.5 percent in 2020. It’s a middling forecast compared to the rest of the region. Montenegro is predicted to grow by 6.1 percent and Albania and Croatia by 5.4 and 5.1 percent respectively....
Economy 22.10.20 | 14:02

World Bank: Macedonia is coping with its deepest recession ever

Macedonia is coping with its deepest recession in two decades affecting all sectors of the economy and economic activity is forecast to decline by 4.1 percent in 2020, according to the World Bank’s latest Regular Economic Report . The reason for this situation, as the World Bank, says, is the COVID-19...
Macedonia 09.10.20 | 15:06

Worst mortality rate in the Balkans, fiscal reserves spent – World Bank paints a dire picture of Macedonia

The fall World Bank report presented a very serious picture of how Macedonia is handling the coronavirus epidemic, as a country which has by far the worst mortality rate in the Balkans and has spent its fiscal reserves. Macedonia has 302.9 coronavirus deaths per million inhabitants – only Bosnia...
Macedonia 17.09.20 | 14:06

World Bank: In terms of quality of learning, 11 years of schooling in Macedonia is only equivalent to 7.3 years

Young people in the Europe and Central Asia region are being provided with the opportunities needed to grow into productive adults, thanks to continued investments in health and education during their childhood and teenage years, says the latest update of the World Bank’s Human Capital Index (HCI),...
Economy 28.04.20 | 22:19

EUR 50 million World Bank loan for private sector salaries

The Government adopted Tuesday the report on reallocating funds from the World Bank Local Roads Connectivity Project in the amount of EUR 50 million towards co-funding the Government measure for financial support of employers hit by the coronavirus crisis in paying salaries to workers in April and May. The...
Macedonia 07.02.20 | 10:44

World Bank report finds that Macedonians use outdated forms of heating which badly damage the environment

A World Bank report finds that the energy sector in Macedonia is badly outdated, with costly electricity imports, damaging to the forests and causing high levels of air pollution. The report notes that only 9 percent of all households use central heating – all of them in the capital Skopje. Some...
Economy 11.03.19 | 12:01

WB Executive Director Davidse visits Macedonia

The Executive Director of the World Bank Koen Davidse pays an official visit to Macedonia on March 11-12. Minister of Finance Dragan Tevdovski will be his host, and several high-level meetings are planned. “During the visit, Davidse will meet with Prime Minister Zoran Zaev, Deputy Prime Minister...
Economy 12.02.19 | 09:43

World Bank suggests that Macedonia extends the retirement age in order to save its pension system

World Bank calls on Macedonia to increase the retirement age, warning that without reforms the pension system will continue to be unsustainable. According to a WB report, the system is also not fair enough, and a strong policy reform push would stabilize the PIOM fund and make it more fair. The Bank...
Economy 09.01.19 | 17:22

World Bank pours cold water on Zaev’s economic growth hopes

The latest World Bank report on “Global Economic Perspectives” finds that Macedonia will fall far short of the rosy growth expectations pushed forward by Prime Minister Zoran Zaev, who said that we’ll grow by 5 percent, “God willing”. But, according to the WB report, Macedonia...
World 08.01.19 | 09:20

World Bank’s Kim abruptly resigns to join infrastructure firm

World Bank Group President Jim Yong Kim unexpectedly resigned on Monday, more than three years before his term ends in 2022, amid differences with the Trump administration over climate change and the need for more development resources, Reuters reports. Kim, appointed twice by former U.S. President Barack...

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