Poverty Reduction, Shared Prosperity and Inequality in FYR Macedonia in the Post Financial Crisis Period (2009-2013)
FYR Macedonia has experienced a decline in poverty in the post global financial crisis period (2009-2013) in spite of a weak macroeconomic performance. In contrast to the pre-crisis period when growth was robust but poverty stagnant, poverty indica...
| Main Author: | |
|---|---|
| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/635111493908412390/Poverty-reduction-shared-prosperity-and-inequality-in-FYR-Macedonia-in-the-post-financial-crisis-period-2009-2013 http://hdl.handle.net/10986/26649 |
| Summary: | FYR Macedonia has experienced a decline
in poverty in the post global financial crisis period
(2009-2013) in spite of a weak macroeconomic performance. In
contrast to the pre-crisis period when growth was robust but
poverty stagnant, poverty indicators indicate an improvement
on the living conditions of the bottom of the distribution.
Employment gains were the main reason for the increase in
welfare among the less well-off, while other income sources
like pensions, social assistance or remittances have played
a limited role. Labor income at the bottom of the
distribution continues to be very low, however, and the
sustainability of the employment gains is uncertain as the
public sector played an important role for employment
expansion in the period. Still, FYR Macedonia faces many
challenges looking forward. Despite the recent improvements,
poverty and inequality is still high when compared with
other countries with similar levels of GDP per capita in the
region. Income-generation opportunities for the poor are
limited as the poor have very weak labor market attachment,
their employment quality is lower than for the rest and are
more likely to be employed in low productivity sectors.
Inclusive growth seem also to be challenged by the
differences in access to high wage jobs for women and the
youth. Demographics seem important looking forward, since
they will shape future labor markets performance. |
|---|