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- The Republic of North Macedonia participates in the process of pre-accession harmonization of economic policies with the European Union and prepares an annual ERP that contains macroeconomic and fiscal policies and indicators, as well as structural reforms and measures to improve the country’s competitiveness and reduce unemployment.
finance.gov.mk/economic-reform-program/?lang=en
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Following a slowdown in growth in 2022 as the economy of North Macedonia was hit heavily by the surge in global energy prices, the economic reform programme (ERP) projects that growth will gradually accelerate in 2023-25 due to an increase in public and private investment.
The Republic of North Macedonia participates in the process of pre-accession harmonization of economic policies with the European Union and prepares an annual ERP that contains macroeconomic and fiscal policies and indicators, as well as structural reforms and measures to improve the country’s competitiveness and reduce unemployment.
North Macedonia’s economy has shown steady growth since 2012, driven mainly by domestic consumption and exports (notably basic metals and textile products), with a slight drop in 2017, followed by another bout
North Macedonia is vulnerable to economic developments in Europe - due to strong banking and trade ties - and dependent on regional integration and progress toward EU membership for continued economic growth.
In adopting its final National Energy and Climate Plan (NECP), the country set a date of 2027 for the closure of its two coal power plants. The ambitious plan features carbon taxation, energy efficiency measures and gas as a transition fuel. Fiscal decentralisation reform has been adopted.
The Republic of North Macedonia is an upper middle-income country that has made great strides in reforming its economy over the last decade. More efforts are still needed to generate economic growth and improve living standards for all.
The Country Partnership Framework (CPF) aims to support North Macedonia’s ability to achieve faster, inclusive, and sustainable growth and provide its citizens with greater opportunities for a better life.
