Prof

The Republic of Macedonia was one of the poorest republics in former Yugoslavia and now is one of the poorest countries in Europe. GDP per capita in terms of the purchasing power parity is about a quarter of the European average. After an exceptionally unfavorable period in 1995-1998 and the post conflict period 2001-2004, GDP growth rate in Macedonia start getting higher in the past few years. The two last years as a consequence of the world economic crises the GDP growth rates plunged at almost a ground level. The global financial crisis had a significant impact on the Macedonian growth rate in 2009. Macedonian GDP considering purchasing power parity per capita in 2006 reached 28%, of purchasing power per capita in the European Union (ЕU 27), 31% of Slovenia, 54% of Croatia, 76.7% 1 1