Palladium (North Macedonia)

Over the last 20 years, Macedonia has made great strides in its journey to economic self-reliance, but still lacks dynamic private sector growth and employment.

Development resources and donor funding to Macedonia are dwindling due to the country's economic progress over the past decade. The country's business ecosystem—the network of organisations delivering products or services to the private sector, especially its micro, small, and medium enterprises (MSMEs)—needs to generate and channel private investment in place of external donor resources. MSMEs are the engines of Macedonia’s growth and job creation. Unemployment continues to be a significant challenge in Macedonia, especially among youth, with the official unemployment rate in 2017 at 25%. Among youth, the rate was over 50%—one of the highest in the world. Moreover, working-age women remain underrepresented in the labor force, with low rates of participation (around 50%, compared to 78% for working age men), depriving the economy of productive capacity.