Economic revival, but the road ahead is fraught with challenges


HIGH RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

The country risk assessments are your North Star metrics to make the right decision for your business and understand the risks in international trade. We have always the best solution for your needs

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GDP USD 5.5bn (World ranking 155, World Bank 2018)
Population 0.62mn (World ranking 166, World Bank 2018)
Form of state Parliamentary republic
Head of government Dusko MARKOVIC (Prime Minister)
Next elections 2020, legislative
  • EU accession candidate country; accession talks promote economic development
  • Use of the euro will keep inflation under control in the next few years
  • Strong tourism potential
  • Small economy vulnerable to external shocks
  • Perceived corruption remains a concern for business operations
  • Use of the euro has limited external competitiveness and reduced the country’s ability to deal with external shocks
  • Large fiscal deficits over the past decade have pushed public debt to over 70% of GDP
  • Unsustainably high, double-digit current account deficits make the country heavily reliant on capital inflows (including grants)
  • Very high gross external debt (around 160% of GDP)


Contact Euler Hermes

Economic Research Team