A World Bank Group analysis suggests that North Macedonia can accelerate its economic development and enhance job quality through targeted structural reforms. The report emphasizes that strengthening governance, unlocking private sector potential, and improving workforce skills are critical steps for the country. Without intervention, North Macedonia’s growth is projected to slow to an average of 2.4 percent annually by 2050, falling short of the pace required to close the income gap with the European Union.
Conversely, implementing a comprehensive reform package could elevate that growth rate to 3.8 percent by 2050, potentially generating an additional 53,000 jobs and improving conditions for 196,000 existing workers. According to the analysis, the country possesses strong assets, including a young population and a strategic location in the Balkans. The report identifies three core areas for reform.
First, improving economic governance and competition through more efficient public spending and better state-owned enterprise oversight is paramount. Second, accelerating technology adoption and energy efficiency will help businesses become more productive while supporting the green transition. Third, developing human capital requires boosting women’s labor force participation and expanding lifelong learning opportunities.
These reforms are crucial for North Macedonia to continue moving up the value chain. The analysis highlights the Information and Communications Technology (ICT) and professional services sectors as major drivers of quality employment. Successfully capitalizing on these areas and integrating workforce skills for an AI-driven future will be key to ensuring sustained prosperity across the north region.
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What specific structural reforms does the World Bank recommend for North Macedonia to improve its economic development and job quality?
A World Bank Group analysis suggests that North Macedonia can accelerate its economic development and improve job quality through targeted structural reforms. The report emphasizes that strengthening