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THE FORMER YUGOSLAV REPUBLIC OF MACEDONIA Tenders




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Capital Skopje
ISO 3166 Code MK
Population 2,065,769
Area, Sq KM 25,333
Currency Macedonian denar
Official Language Macedonian
GDP, Billion USD 9,663
GDP Growth Rate, % 3.4
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % 28.96
Exchange Rate, 1 USD Equals 54.26
International dial code 389
Time Zone GMT+01:00
Internet TLD .mk

Macedonia is officially known as the Republic of Macedonia. It is a country which is located in the central Balkan Peninsula in Southeast Europe and known to be one of the successor states of the former Yugoslavia. It declared its independence in the year 1991. Macedonia is basically a landlocked country and is bordered by Bulgaria to the east, Albania to the west, on its south by Greece and north by Serbia. It comprises the northwestern third of the larger geographical region of Macedonia along with the neighbouring parts of northern Greece as well as a smaller portion in southwestern Bulgaria. Skopje is the country’s capital and has 506,926 inhabitants as per the 2002 census. Nature has bestowed this country with some of the best features. It has sixteen mountains that are higher than 6,562 ft. and has over 50 lakes. Macedonia has been a member of the European Union since 2005 along with being a member of the UN and of the Council of Europe. It has also applied for a NATO membership. In 1993, it became a member of the United Nations. As per the World Bank in the year 2009, it was ranked as the 4th"best reformatory state" out of 178 countries. From 1996 to2005, Macedonia has experienced slow but steady economic growth with GDP growing up to 3.1% in 2005 which was further expected to rise to an average of 5.2% between the years 2006–2010. The Macedonian government has managed to successfully put efforts combat inflation along with implementing policies that are focused on attracting foreign investment along with promoting the development of small and medium-sized enterprises. However, despite taking these reforms, the unemployment rate as of 2005 was 37.2 percent. Corruption and ineffective legal system are two major problems that the country still faces today. It also has one of the lowest per capita GDPs in entire Europe. As of 2005, the service sector of Macedonia comprised the largest part of GDP at 57.1%. The industrial sector accounted for 29.3% of GDP from 33.7 percent in 2000 and agriculture represents 12.9%, up from 12%, only. Textiles represent the most essential and prominent sector for trade which accounts for more than half of the total exports. Other important exports of this country include steel, iron, vegetables and wine. Macedonia is a less developed country and has a smaller economy compared to most of the former Yugoslav states. The GDP per capita in terms of PPP of the country is recorded at US$9,157.

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