Southeastern Europe & Mediterranean Emerging Market Economies: Bi-Weekly Report 23 January - 5 February 2024

NORTH MACEDONIA
North Macedonia heads for double elections in spring 
The incumbent ruling coalition is unlikely to remain in power 
Further delays in the country’s EU accession process are likely on the cards, as the formation of a Parliamentary supermajority backing the required constitutional reforms seems a distant prospect
Economic convergence with the EU should be a priority in the period ahead


SERBIA
GDP growth to accelerate to 3.8% in FY:24 from an estimated 2.5% in FY:23, mainly driven by private consumption
Political noise remains elevated, despite the resolution of electoral uncertainty
A normalization in Serbia-Kosovo relations, a sine qua non condition for EU accession, remains highly unlikely in the current juncture


APPENDIX:
DETAILED MACROECONOMIC DATA
REGIONAL SNAPSHOT: MACROECONOMIC INDICATORS & FINANCIAL MARKETS