12th May 2025, Skopje – IMF Executive Board, in its Concluding Statement of the 2025 Article IV Mission related to our country, as published this week, noted that the economic growth, which is to reach 3.3%, is mostly driven by domestic demand and public investments.
IMF staff pointed out that the economic growth is gaining momentum despite the external risks, being driven by stronger domestic demand as public investment projects (including the Corridor 8/10d road project) intensify and consumption is supported by government transfers and real wage growth.
As stated in the Report, fiscal consolidation is essential to abide by fiscal rules and build policy buffers in an uncertain environment. As per IMF, this is key to maintaining market confidence, ensuring access to international capital, creating room for investment, and enhancing resilience against future shocks.
IMF staff also pointed out the need for structural reforms to boost productivity, offset the drag from emigration, advance in the EU accession process, reduce the informal economy, make investments in the field of education, increase digitalization and similar.
IMF Mission was carried out in the period 13th-25th February, with the Staff Report being prepared on the basis of the preliminary findings published upon the end of the official staff visit. Article IV Consultations take place at regular annual intervals.
