THE EFFECTS OF GLOBAL CRISIS ON MACEDONIA

Abstract

This research paper has to do with the global crisis and its impacts on the economy of Macedonia.  In the paper 
will be included a detailed explanation of the beginning of the global crisis which arises from 2008 when 
mortgage market in America failed and caused a big drop in the stock market. Reviewing the policies of the 
regional countries we will compare the results with Macedonian indicators. The goal is to show how Macedonia 
faces and what kind of policies uses during the last four years to fight back. Analyzing macroeconomic indicators 
and grey economy, corruption and high rate of unemployment we will see how the government tries and what 
kind of policies uses to prevent or better say to survive this period of global financial and social crisis. Greek’s 
political and economic as well as Bulgarian political impact will be reviewed in detail. In the end of the paper, we 
will give some recommendations of our own, how to respond in such situations like Macedonia is faced with.