COVID-19- A Struggling Recovery for the Private Sector in North Macedonia

COVID-19- A Struggling Recovery for the Private Sector in North Macedonia

As the COVID-19 pandemic has continued to take its toll on human life, businesses in North Macedonia have continued to struggle despite a return to some normalcy. Th­is note examines the state of the private sector in North Macedonia by comparing t...

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Main Authors: Jolevski, Filip, Madzarevic-Sujster, Sanja
Format: Brief
Language:English
Published: World Bank, Washington, DC 2022
Online Access:http://documents.worldbank.org/curated/en/099510507192223011/IDU006176d3207d0304d65082d80322269d4b698
http://hdl.handle.net/10986/37746
id okr-10986-37746
recordtype oai_dc
spelling okr-10986-377462022-07-23T05:10:36Z COVID-19- A Struggling Recovery for the Private Sector in North Macedonia Jolevski, Filip Madzarevic-Sujster, Sanja As the COVID-19 pandemic has continued to take its toll on human life, businesses in North Macedonia have continued to struggle despite a return to some normalcy. Th­is note examines the state of the private sector in North Macedonia by comparing the performance of businesses during the period of adjustment to the pandemic in April 2021 with the initial impact in September 2020 and the baseline before the crisis, drawing on a standard round of the Enterprise Survey in 2019 and two follow-up surveys in 2020 and 2021. While the second round of the follow-up survey revealed signs of some early-stage recovery, on average firm sales were still worse off than at the outbreak of the pandemic. Small and medium enterprises (SMEs) have been facing difficulties obtaining financing and were more likely to be overdue on their financial obligations than in fall 2020. A quicker and stronger recovery could be promoted through sound policies that aim at increasing access to financing, enhancing digitalization, and improving firm management and human capital, as well as the effective implementation of insolvency procedures. 2022-07-22T16:53:50Z 2022-07-22T16:53:50Z 2022-07-19 Brief http://documents.worldbank.org/curated/en/099510507192223011/IDU006176d3207d0304d65082d80322269d4b698 http://hdl.handle.net/10986/37746 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Technical Papers Technical Papers :: Enterprise Surveys Europe and Central Asia North Macedonia (Formerly the Former Yugoslav Republic of Macedonia)
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
geographic_facet Europe and Central Asia
North Macedonia (Formerly the Former Yugoslav Republic of Macedonia)
description As the COVID-19 pandemic has continued to take its toll on human life, businesses in North Macedonia have continued to struggle despite a return to some normalcy. Th­is note examines the state of the private sector in North Macedonia by comparing the performance of businesses during the period of adjustment to the pandemic in April 2021 with the initial impact in September 2020 and the baseline before the crisis, drawing on a standard round of the Enterprise Survey in 2019 and two follow-up surveys in 2020 and 2021. While the second round of the follow-up survey revealed signs of some early-stage recovery, on average firm sales were still worse off than at the outbreak of the pandemic. Small and medium enterprises (SMEs) have been facing difficulties obtaining financing and were more likely to be overdue on their financial obligations than in fall 2020. A quicker and stronger recovery could be promoted through sound policies that aim at increasing access to financing, enhancing digitalization, and improving firm management and human capital, as well as the effective implementation of insolvency procedures.
format Brief
author Jolevski, Filip
Madzarevic-Sujster, Sanja
spellingShingle Jolevski, Filip
Madzarevic-Sujster, Sanja
COVID-19- A Struggling Recovery for the Private Sector in North Macedonia
author_facet Jolevski, Filip
Madzarevic-Sujster, Sanja
author_sort Jolevski, Filip
title COVID-19- A Struggling Recovery for the Private Sector in North Macedonia
title_short COVID-19- A Struggling Recovery for the Private Sector in North Macedonia
title_full COVID-19- A Struggling Recovery for the Private Sector in North Macedonia
title_fullStr COVID-19- A Struggling Recovery for the Private Sector in North Macedonia
title_full_unstemmed COVID-19- A Struggling Recovery for the Private Sector in North Macedonia
title_sort covid-19- a struggling recovery for the private sector in north macedonia
publisher World Bank, Washington, DC
publishDate 2022
url http://documents.worldbank.org/curated/en/099510507192223011/IDU006176d3207d0304d65082d80322269d4b698
http://hdl.handle.net/10986/37746
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