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Investment Reform Index 2010

Monitoring Policies and Institutions for Direct Investment in South-East Europe

image of Investment Reform Index 2010

Using an innovative methodology, the Investment Reform Index 2010 (IRI 2010) monitors investment-related policy reforms in the economies of South-East Europe and compares these to best practices in the OECD area. Based on inputs from governments, the private sector, independent experts and multilateral organisations active in the region, the IRI 2010 assesses policies and institutional settings in eight fields of policy critical to domestic and foreign investors. These are: investment policy and promotion; human capital development; trade policy and facilitation; access to finance; regulatory reform and parliamentary processes; infrastructure for investment; tax policy analysis; and SME policy. For the economies examined, the IRI 2010 provides an independent and rigorous assessment of investment-related policy settings and reform against international good practice, guidance for policy reform and development and an evidence base with which to facilitate prioritisation of donor activities supporting investment and growth.

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The Former Yugoslav Republic of Macedonia

The former Yugoslav Republic of Macedonia experienced average annual real GDP growth of 4.9% between 2005 and 2008. Growth has been driven by investment and private consumption. While inflation had remained below 4% since 2002, it increased rapidly in 2007-08 due to higher food and energy prices, reaching 8.3% in 2008 (IMF, 2009). However, inflation sharply decreased in 2009 (European Commission, 2009).

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