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Macedonia: Central Macedonia
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Macedonia is one of the richer regions of Greece. Its geophysical outline divides the area in three regions: Westerner, Central and Eastern Macedonia. Each region has its own economic structure. Central Macedonia is the richer and most efficient region. It includes the most bountiful plain of the country, that of Thessalonica, supplying the whole country with its produce. Livestock farming, even though it is adequately developed, it plays a secondary role in this area.
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Established as an independent Central Bank 1992, the National Bank of the Republic of Macedonia is the institution responsible for the stability of the national banking system. The site presents basic economic data, information on financial laws and regulations as well as several publications and press releases.
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Macedonia has Free Trade Agreements with Ukraine, Turkey, and the European Free Trade Association countries. Bilateral agreements with Albania, Bosnia and Herzegovina, Croatia, Serbia, Montenegro, UN Mission in Kosovo, and Moldova were replaced with the membership in the Central European Free Trade Agreement (CEFTA), which the other countries joined in December 2006.
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After the breakup of Yugoslavia in 1991, Macedonia, the former Yugoslavia's poorest republic, faced formidable economic challenges posed by both the transition to a market economy and a difficult regional situation. The breakup deprived Macedonia of key protected markets and large transfer payments from the central Yugoslav government. The war in Bosnia, international sanctions on Serbia, and the 1999 crisis in neighboring Kosovo delivered successive shocks to Macedonia's trade-dependent economy. The government's painful but necessary structural reforms and macroeconomic stabilization program generated additional economic dislocation. Macedonia’s economy was hurt especially by a trade embargo imposed by Greece in February 1994 in a dispute over the country's name, flag, and constitution, and by international trade sanctions against Serbia that were not suspended until a month after conclusion of the Dayton Accords. The impact of the 2001 ethnic Albanian insurgency in Macedonia, decreased international demand for Macedonian products, canceled contracts in the textile and iron and steel industry, and poor restructuring of the private sector affected Macedonia's growth and foreign trade prospects through 2004.
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With the exception of the southern and western districts already specified, the principal towns, and certain isolated tracts, the whole of Macedonia is inhabited by a race or The races speaking a Slavonic dialect. If language is Slavonic adopted as a test, the great bulk of the rural popula tion must be described as Slavonic. The Sla y s first crossed the Danube at the beginning of the 3rd century, but their great immigration took place in the 6th and 7th centuries. They overran the entire peninsula, driving the Greeks to the shores of the Aegean, the Albanians into the Mirdite country, and the latinized population of Macedonia into the highland districts, such as Pindus, Agrapha and Olympus. The Sla y s, a primitive agricultural and pastoral people, were often unsuccessful in their attacks on the fortified towns, which remained centres of Hellenism. In the outlying parts of the peninsula they were absorbed, or eventually driven back, by the original populations, but in the central region they probably assimilated a considerable proportion of the latinized races.
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The Republic of Macedonia is situated in southern Europe on the Balkan Peninsula. Occupying a central geographical position in the Balkans, it is a transportation and communications crossroads linking Europe, Asia and Africa. Lying at the centre of the Balkans, Macedonia is at the junction of the main routes which have for millennia linked the West to the Orient. It covers an area of 25,713 square kilometres (the entire area of Macedonia covers approximately 66,000 square kilometres) and borders with Bulgaria to the east, Greece to the south, Albania to the west and Serbia to the north.
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Central Macedonia