Former Yugoslav Republic of Macedonia : Recent Economic Developments

This paper reviews economic developments in the Former Yugoslav Republic of Macedonia during 1990–95. The financial stabilization in 1994 was a result of three key policy changes. The National Bank abolished its system of passively rediscounting selective commercial bank credits and the emphasis of monetary policy was switched to inflation control. A broad range of fiscal measures ensured a decline in the public sector deficit from 11 percentage points of gross social product in 1993 to 3 percentage points in 1994. There was a 50 percent drop in measured industrial production between 1990 and 1994.
Publication date: June 1995
ISBN: 9781451825961
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Banks and Banking , national bank , inflation , foreign exchange , monetary policy , banking , Macedonia

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