Macedonia (the former Yugoslav Republic of)

We forecast a technical recession throughout CEE over the winter due to falling purchasing power and foreign demand, tighter financial conditions and lower fiscal spending. A rebound is likely from 2H23 onwards if the eurozone economy recovers as wel...

CB raises interest rate on overnight deposits, overnight loans, seven-day deposits by 0.70pps each. CB sells MKD 8.96bn of its 28-day bills at Nov 16 auction, demand below MKD 10bn target. Central bank says latest interest rate hike reflects accelera...

Russia’s invasion of Ukraine could be a watershed moment for Europe’s political and economic landscape. Comprehensive sanctions could affect CEE’s trade with Russia and also domestic sectors in which Russian investment is important, such as ene...

We expect the economies in EU-CEE 1) and in the Western Balkans to grow by around 4.0% in 2022 and by 4.4% in 2023, slowing from 5.1% in 2021. Pent-up consumer demand is expected to drive the recovery in 1H22, while capex and exports could be underpi...

Cabinet to include 12 members from SDSM, six ministers from DUI, three from Alternativa. Finance Minister Besimi, Economy Minister Bekteshi from DUI to remain at their posts. Justice Minister Maricic to become deputy PM for European affairs in new ca...

We expect economies in EU-CEE and in the Western Balkans, to grow by around 6% in 2021 and 4.6% in 2022. Turkey’s economy could grow by 9.7% in 2021 and 5.5% in 2022. In Russia, GDP growth could slow from 4% in 2021 to 2.4% in 2022. Before the end....