NORTH MACEDONIA

Country risk rating

C2

MEDIUM RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Swipe to view more

GDP USD12.7bn (World ranking 136, World Bank 2019)
Population 2.1mn (World ranking 147, World Bank 2019)
Form of state Parliamentary republic
Head of government Zoran Zaev (Prime Minister)
Next elections 2024, presidential and legislative
  • Fairly good relations with the EU, including much improved relations with neighboring Greece after the agreement on the country’s new name “North Macedonia”
  • Solid monetary policy, track record of low inflation
  • Relatively prudent fiscal policy
  • Pro-business stance of the government to attract foreign investment, including low tax rates, easy processes to start a business and get credit
  • Underlying ethnic tensions
  • Slow economic reform progress, often due to weak majorities in parliament
  • High external debt burden, including arrears
  • Moderate level of foreign exchange reserves, insufficient to cover all external debt payments due within one year
  • Very high unemployment
  • Weak rule of law and significant level of perceived corruption
  • Underdeveloped road and rail infrastructure
Popular Risk Reports: Americas

Popular Risk Reports: Europe

Popular Risk Reports: Asia Pacific

Popular Risk Reports: Middle East