http://worldcat.org/entity/work/id/352308863

Former Yugoslav Republic of Macedonia : 2008 article IV consultation : staff report : public information notice on the Executive Board discussion : and statement by the Executive Director for the former Yugoslav Republic of Macedonia

1. Macroeconomic vulnerabilities are growing, while the expiry of the Fund arrangement in August means the loss of an important macroeconomic policy anchor. Performance under the program has generally been good, especially at first (Table 1). Growth this year is expected to reach 6 percent, up from 5 percent in 2007, while living standards and employment have improved. However, a shift to more expansionary policies increased external vulnerabilities, with the current account deficit rising to a projected 14 percent of GDP this year. As a result, international reserves are projected to fall below three months of imports, and other indicators of external vulnerability are worsening.

Open All Close All