Macedonia
In-depth country-focused analysis on Macedonia's economic, political and operational risk environment, complemented by detailed sector insight

Our comprehensive assessment of Macedonia's operating environment and the outlook for its leading sectors are formed by bringing together a wealth of data on global markets that affect Macedonia, as well as the latest industry developments that could impact Macedonia's industries. This unique integrated approach has given us an impeccable track-record for predicting important shifts in the markets, ensuring you’re aware of the latest market opportunities and risks in Macedonia before your competitors.

Country Risk

Macedonia Country Risk

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Core Views

  • The exclusion of the main opposition Social Democratic Alliance from Macedonia's policy-making process spells trouble for the political risk profile down the line. Should the status quo be upheld for a prolonged period of time, this would hurt the legitimacy of the ongoing reform process and jeopardise Macedonia's EU membership ambitions.

  • Political and external headwinds will see economic growth in Macedonia gradually decelerate in 2014 and 2015, keeping forecasts well below consensus. However, improvement in domestic conditions will see a return of positive fixed investment growth and steady household consumption growth over the coming years, ensuring a continued recovery of the economy as a whole.

  • A more expansionary fiscal policy this year and next in Macedonia will not derail the broader trend of the deficit narrowing over...

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Macedonia Industry Coverage (1)

Telecommunications

Macedonia Telecommunications

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BMI View : The Macedonian market is relatively mature, although it continues to suffer from some structural and macroeconomic weaknesses that continue to hamper its prospects. The fixed-line market is slowly contracting as mobile and IP substitution take hold. A lthough cable TV oper ators threaten the incumbent, individually they lack strength owing to a local ised focus . With regards to mobile, high prices and consumers' preference for low-cost prepaid services have long weighed on 3G adoption, although this is beginning to change and bodes well for the three mobile operators' purchase of 4G LTE licences in July 2013. T he mobile VAS and content market is under-developed, giving consumers little incentive to...

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