Volume 1 Cedric - revised luca Final - RUIG-GIAN

Official gross reserves 4 290 450 700 756 780 b 715 749 738(in months of next year's importsof goods and non-factor services) 1.8 2.4 4.3 4.4 4.3 4.0 4.0 3.8External debt service ratio 5 9.5 12.4 13.0 19.8 14.4 -13.2 15.6External debt to GDP ratio (per cent) 38.5 39.2 40.1 37.2 … 35.4 33.8 33.3Exchange rates 6 (Per cent change, period average)Nominal effective exchange rate 0.9 12.4 12.4 3.3 0.5 a, b … … …Real effective exchange rate (CP1-based) -7.0 2.9 4.0 -6.1 -2.8 a, b …Sources: Data provided by the FYROM authorities; and IMF.a Percentage change relative to the same period of the previous year.b Actual.c Percentage change relative to December of previous year.1/ Negative figure implies that revenue-enhancing or expenditure-reducimeasures are required3/ Includes foreign currency deposits.4/ Includes receipts from privatization of telecommunications company of 323 million US$in January 20015/ Debt service due, including IMF, as a percentage of exports of goods and services.6/An increase means appreciation of the Dinar. Partner countries include Federal Republic of Yugoslavia and Bulgaria3. Main features of the multi-stakehoder SMEsample1. Number of respondents as distributed by sub-region.Skopje Ohrid Ohrid-Resen Gostivar Tetovo Total4 12 3 10 7 362. Number of employees.1-5 5-10 10-50 50-100 100-250Skopje 2 1 1Ohrid 6 1 3 1 1Ohrid-Resen 2 1Gostivar 3 2 2 2 1Tetovo 1 3 1 1Total 14 7 7 4 33. Foundation year.1963 1980 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002Skopje 1 2 1Ohrid 1 1 3 2 4 1Ohrid-1 1 1ResenGostivar 1 1 1 1 1 1 1 2 1Tetovo 1 1 2 1 1 1Total 1 1 1 1 1 1 1 1 1 1 3 5 1 8 7 2135