Search results

KEY ISSUESContext. Growth continues to strengthen, although the recovery is not yetbroad-based. External and fiscal vulnerabilities have risen: private non-debt creating capital flows have slowed, and could leave the reserve path increasingly driven by an accumulation of external public debt; central government debtâ??although still moderate at a projected 36 percent of GDPâ??has increased by about 15 percentage points since the beginning of the global financial crisis, in the context of growing broader public sector operations.Fiscal Policy. The newly re-established medium-term strategy is we

Cover -- CONTENTS -- CONTEXT -- RECENT DEVELOPMENTS -- OUTLOOK AND RISKS -- POLICY DISCUSSION -- A. Creating Jobs and Strengthening Institutions -- B. Rebuilding Fiscal Policy Space -- C. Ensuring Monetary and Financial Stability -- STAFF APPRAISAL -- BOXES -- 1. Proposed Pension Reforms -- 2. Improving VAT Collections -- FIGURES -- 1. Real Sector Developments -- 2. Recent Fiscal Developments -- 3. External Sector Developments -- 4. Medium-Term Growth Outlook -- 5. Long-Term Unemployment -- 6. Informality and Drivers -- 7. Institutional Weaknesses and Impact -- 8. Investment Constraints and Gains from Removal -- 9. Fiscal Risks -- 10. Fiscal Recommendations -- 11. Financial Sector Indicators -- TABLES -- 1. Summary of Economic Indicators, 2015-2023 -- 2a. Central Government Operations, 2015-23, Billiona of MKD denars -- 2b. Central Government Operations, 2015-23, Percent of GDP -- 3a. Balance of Payments, 2015-23 -- 3b. Balance of Payments, 2003-23 -- 4. Monetary Survey, 2015-23 -- 5. Central Bank Survey, 2015-23 -- 6. External Sector Assessment -- 7. Risk Assessment Matrix -- 8. Financial Soundness Indicators of the Banking System, 2012-2018 -- ANNEXES -- I. Judicial Reform and Anti-Corruption Efforts in FYR Macedonia: Recent Progress and Next Steps -- II. Minimum Wage Policies in FYR Macedonia: Risks and Impact -- III. Debt Sustainability Analysis -- CONTENTS -- FUND RELATIONS -- IMF-WORLD BANK COLLABORATION -- STATISTICAL ISSUES

"The Republic of Macedonia is a particularly interesting case-study for analysts of international relations. Its very existence has been contested by its neighbors; its internal balance is delicate. Potentially, the country could, however, become a model of stability in a traditionally conflictual region. Dejan Marolov presents an encompassing, in-depth analysis of the country's foreign policy since the break-up of Yugoslavia. He examines relations with neighboring countries, as well as Maced...

Before exploring more specifically the role of the Organization for Security and Co-operation in Europe (OSCE) and that of its High Commissioner particularly within the context of a well-documented case study, that of the Former Yugoslav Republic of Macedonia, this chapter will first take a closer look at the concept of conflict prevention and the historical background of its emergence as a political concept in international relations. The chapter will also briefly delineate the role of the High Commissioner in general, and then more specifically in the case of the Former Yugoslav Republic of Macedonia. ; peer-reviewed

1. How decentralisation came to the new Macedonia -- 2. Has decentralisation enhanced local democracy? -- 3. Making local services more responsive to diverse needs -- 4. Who has the money? Fiscal reform and local autonomy -- 5. Subsidiarity versus state cohesion.