Macedonia2025 authored the latest report of the International Labour Organization (ILO) which assessed the impact of the Covid-19 pandemic on the Macedonian businesses and provides recommendations for policymakers for designing effective anti-crises measures. In an environment of uncertainty and a lack of official data on the extent of business losses because of the pandemic, a survey was launched with two main goals: to collect more systematic information on the effects of the Covid-19 pandemic on companies’ operations and employment; to identify support measures that would be most beneficial for companies to overcome these difficult times (along with an assessment of the Government’s anti-crisis packages). The survey was carried out in cooperation with the representative employers’ organization in Macedonia.
Survey results reveal large negative effects of the Covid-19 crisis on Macedonian companies. 82 % of companies have been significantly hurt by the pandemic, a majority of which (43 % reported that the pandemic had fundamentally reduced their revenues by over 50 %, and 11 % of companies have temporarily closed down their business).
Findings from the employers’ survey provided a solid basis for proposing government measures and actions to support business and help them (and the economy) preserve jobs. Main recommendations include: further increase in available liquidity loans; expansion and higher inclusion of wage subsidy schemes; acceleration of the return to normalcy in terms of services and administrative functions that institutions need to provide support for business (which may also require investments in digital solutions); as well as more diverse and decisive government measures to support the economy. Finally, companies reiterated their pre-pandemic requirements for better general business environment. Examples include fair, functional systems with effective public administration, rule of law, and further lowering and reassessment of the need for many parafiscal charges.
Read the full report HERE.