Former Yugoslav Republic of Macedonia : Second Review Under the Stand-By Arrangement and Request for Waiver of Performance Criteria and Rephasing of the Program: Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for the former Yugoslav Republic of Macedonia.

Format:

Book

Government document

Author/Creator:

International Monetary Fund.

Contributor:

International Monetary Fund, Contributor.

Series:

IMF Staff Country Reports; Country Report ; No. 2007/257

IMF Staff Country Reports

Language:

English

Subjects (All):

International Monetary Fund--Macedonia (Republic).

International Monetary Fund.

Structural adjustment (Economic policy)--Macedonia (Republic).

Structural adjustment (Economic policy).

Fiscal policy--Macedonia (Republic).

Fiscal policy.

Physical Description:

1 online resource (91 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2007.

Language Note:

English

Summary:

This paper discusses the Former Yugoslav Republic of Macedonia’s Second Review Under the Stand-By Arrangement and Request for Waiver of Performance Criteria and Rephasing of the Program. The 2007 fiscal deficit target increased modestly to 1 percent of GDP. Taxes were cut and budget quality improved, but there remain fiscal risks, in particular in delivering the planned reduction in transfers and subsidies. Over the medium term, the government aims to keep the fiscal deficit below 1½ percent of GDP, cutting overall government spending by 2 percent of GDP while raising public investment.

Contents:

Cover; Executive Summary; Contents; 1. Fiscal Risks in the Electricity Sector; I.Introduction; II. Recent Developments; Figures; 1. Real Sector Indicators, 2002-06; 2. External Sector Indicators, 2000-06; 3. Exchange Rate Indicators, 2000-06; 4. Financial Market Developments, 2004-06; 5. Money and Credit Developments, 2001-06; 6. Banking Sector Developments, 2002-06; III. Program Discussions; 7. Indicators of Institutional Quality and Reform, 2006; A. Macroeconomic Outlook; B. Fiscal Policy; Text Boxes; 1. Fiscal Risks in the Electricity Sector; C. Structural Reform; IV. Staff Appraisal

Tables1. Performance Criteria and Prior Actions in the Program; 2. Selected Economic Indicators, 2003-07; 3. Macroeconomic Framework, 2003-12; 4. Medium-Term Balance of Payments, 2005-12; 5. Central Government Operations, 2004-07; 6. Central Bank Accounts, 2004-07; 7. Monetary Survey, 2004-07; 8. Financial Soundness Indicators, 2001-06; 9. Fiscal Debt Sustainability Framework, 2002-12; 10. External Debt Sustainability Framework, 2002-12; 11. Indicators of Capacity to Repay the Fund, 2005-12; 12. External Financing Requirements and Sources, 2004-10; Annexes; I. Statistical Issues

II. Fund RelationsIII. World Bank Relations; Attachments; I. Letter of Intent; II. Technical Memorandum of Understanding

Notes:

Description based upon print version of record.

Description based on print version record.

Description based on online resource; title from PDF copyright page (ebrary, viewed July 01, 2015).

ISBN:

9786613740892

9781462385676

1462385672

9781452777924

1452777926

9781280899584

1280899581

9781452716497

1452716498