Event Title

The impact of Covid 19 on North Macedonian Economy and Government Responses

Session

Management, Business and Economics

Description

Republic of North Macedonia has been under lockdown since 18 March due to the Covid-19 outbreak. An initial state of emergency was declared on 18 March for the entire territory of Republic of North Macedonia, and it was later extended. Since the first recorded case of the coronavirus in February, the number of cases in Republic of North Macedonia has raised continually. In view of the current situation a three-phase plan for the reduction of virus prevention measures was adopted by the Macedonian government. Measures to prevent the spread of Covid-19 have slowed economic activity, which in turn has begun to negatively impact the national budget. The aim of this study is to analyze how much this pandemic situation has affected the main economic sectors and main macroeconomic indicators in North Macedonian economy. In order to analyze changes in this indicators are used comparative statistics methods. This methods findings indicate that Covid 19 crisis has negatives impact on the main macroeconomic indicators in Republic of North Macedonia.

Keywords:

Covid 19 Crisis, Government Response, Economic sectors, Macroeconomic indicators

Session Chair

Arta Mulliqi

Session Co-Chair

Amir Imeri

Proceedings Editor

Edmond Hajrizi

ISBN

978-9951-437-96-7

Location

Lipjan, Kosovo

Start Date

31-10-2020 1:30 PM

End Date

31-10-2020 3:00 PM

DOI

10.33107/ubt-ic.2020.280

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Oct 31st, 1:30 PM Oct 31st, 3:00 PM

The impact of Covid 19 on North Macedonian Economy and Government Responses

Lipjan, Kosovo

Republic of North Macedonia has been under lockdown since 18 March due to the Covid-19 outbreak. An initial state of emergency was declared on 18 March for the entire territory of Republic of North Macedonia, and it was later extended. Since the first recorded case of the coronavirus in February, the number of cases in Republic of North Macedonia has raised continually. In view of the current situation a three-phase plan for the reduction of virus prevention measures was adopted by the Macedonian government. Measures to prevent the spread of Covid-19 have slowed economic activity, which in turn has begun to negatively impact the national budget. The aim of this study is to analyze how much this pandemic situation has affected the main economic sectors and main macroeconomic indicators in North Macedonian economy. In order to analyze changes in this indicators are used comparative statistics methods. This methods findings indicate that Covid 19 crisis has negatives impact on the main macroeconomic indicators in Republic of North Macedonia.