What is the ‘Macedonia Dashboard’?

The idea behind the Dashboard was born at one of Macedonia2025 annual Board meetings, when thinking about our purpose and mission, a simple question was raised – ‘What do we mean by a ‘stronger’ nation? And can we prepare a related strategic plan?’ That is why, complementary to our programs, partnerships and initiatives, we led the effort for establishing the Dashboard, with the aim of positively influencing the government and other stakeholders through related countries’ experiences and best practices. Our efforts were also professionally supported by McKinsey & Company, which provided a synthesis of country dashboard best practices and peer country dashboard examples. Within this process, we ‘funneled down’ a large number of potential metrics (i.e. indicators) to ‘top metrics’ that we found most valuable and informative for North Macedonia, alongside with an extensive input from Macedonia2025 Board Members. The Country Dashboard is fully aligned with our mission and strategic objectives. Our vision is to assist the creation of a prosperous economic climate and a ‘stronger nation’ that will improve opportunities for citizens, domestic companies and foreign investors. We seek to promote sustainable economic growth through fostering competitiveness, entrepreneurship, innovations and values-based leadership.

The Country Dashboard is made up of fourteen measures/indicators. Seven of those track the economic growth, while the remaining seven mimic and measure the most important (in our view) drivers for growth – ‘Growth Enablers’. The Dashboard provides a relatively simple, but informative view on the economic conditions and progress made over time, by them being put in a comparative perspective. For the latter, we use a selection of 34 countries which were chosen as country peer group, based on several indicators, but mainly being classified as upper middle-income countries, according to the World Bank. Such choice was made following the World Economic Forum’s (WEF) suggested peer group for North Macedonia.  WEF selects peer groups largely based on a country’s stage of economic development. In this regard, we also provide ranking of the country within the 34 countries and track the progress in relative terms.

As the name of the organization (Macedonia2025) shows, the idea of our founders was to support the country to become part of the developed Western world by 2025. Hence, at the time the Dashboard was created, preliminary targets were set of what the country should achieve by 2025, so that it prospers rapidly towards EU and NATO, and is a better place for living. These targets are also shown in the Dashboard. Some of the targets include: 5-year average GDP growth of 4-5%, unemployment rate to reach 12%, the country to be ranked in the top half among the peer countries regarding democratic freedom and top quartile for corruption index, etc. While our organization is aware that we cannot directly influence the economic indicators, we believe that our programs and actions contribute towards creating both short and long-term conditions for growth, i.e. we do affect the Growth Enablers.

While we believe that the Dashboard is an excellent measurement and monitoring tool, we also expect that it will evolve over time. We will strive to find new and better ways to monitor the country progress, but also to make North Macedonia economically stronger. Additionally, we recently started an initiative in which we provide an interactive tool for all interested partners to explore the Dashboard indicators.

As Macedonia2025 develops as a Think-and-Do tank, more in-depth research would follow on the key drivers of growth.

Finally, the periodicity of the publishing of the Country Dashboard is quarterly and annually. In the quarterly reports, we provide update on those indicators for which quarterly data are available, this mainly being macroeconomic indicators. For the remaining measures, we provide information as soon as it is publicized. The annual reports on Country Dashboard are therefore much richer in information and are valid for the ranking and country comparisons.