COVID-19- A Struggling Recovery for the Private Sector in North Macedonia
As the COVID-19 pandemic has continued to take its toll on human life, businesses in North Macedonia have continued to struggle despite a return to some normalcy. This note examines the state of the private sector in North Macedonia by comparing t...
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| Main Authors: | , |
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| Format: | Online |
| Language: | English |
| Published: |
World Bank, Washington, DC
2022
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| Online Access: | http://documents.worldbank.org/curated/en/099510507192223011/IDU006176d3207d0304d65082d80322269d4b698 https://hdl.handle.net/10986/37746 |
| _version_ | 1866368941289373696 |
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| author | Jolevski, Filip Madzarevic-Sujster, Sanja |
| author_facet | Jolevski, Filip Madzarevic-Sujster, Sanja |
| author_sort | Jolevski, Filip |
| collection | Colección Documentos Técnicos |
| description | As the COVID-19 pandemic has
continued to take its toll on human life, businesses in
North Macedonia have continued to struggle despite a return
to some normalcy. This note examines the state of the
private sector in North Macedonia by comparing the
performance of businesses during the period of adjustment to
the pandemic in April 2021 with the initial impact in
September 2020 and the baseline before the crisis, drawing
on a standard round of the Enterprise Survey in 2019 and two
follow-up surveys in 2020 and 2021. While the second round
of the follow-up survey revealed signs of some early-stage
recovery, on average firm sales were still worse off than at
the outbreak of the pandemic. Small and medium enterprises
(SMEs) have been facing difficulties obtaining financing and
were more likely to be overdue on their financial
obligations than in fall 2020. A quicker and stronger
recovery could be promoted through sound policies that aim
at increasing access to financing, enhancing digitalization,
and improving firm management and human capital, as well as
the effective implementation of insolvency procedures. |
| format | Online Brief |
| id | wb-10986-37746 |
| institution | Banco Mundial |
| language | English |
| publishDate | 2022 |
| publisher | World Bank, Washington, DC |
| record_format | dspace |
| spelling | wb-10986-377462026-04-11T02:16:08Z COVID-19- A Struggling Recovery for the Private Sector in North Macedonia Jolevski, Filip Madzarevic-Sujster, Sanja As the COVID-19 pandemic has continued to take its toll on human life, businesses in North Macedonia have continued to struggle despite a return to some normalcy. This note examines the state of the private sector in North Macedonia by comparing the performance of businesses during the period of adjustment to the pandemic in April 2021 with the initial impact in September 2020 and the baseline before the crisis, drawing on a standard round of the Enterprise Survey in 2019 and two follow-up surveys in 2020 and 2021. While the second round of the follow-up survey revealed signs of some early-stage recovery, on average firm sales were still worse off than at the outbreak of the pandemic. Small and medium enterprises (SMEs) have been facing difficulties obtaining financing and were more likely to be overdue on their financial obligations than in fall 2020. A quicker and stronger recovery could be promoted through sound policies that aim at increasing access to financing, enhancing digitalization, and improving firm management and human capital, as well as the effective implementation of insolvency procedures. 2022-07-22T16:53:50Z 2022-07-22T16:53:50Z 2022-07-19 Brief http://documents.worldbank.org/curated/en/099510507192223011/IDU006176d3207d0304d65082d80322269d4b698 https://hdl.handle.net/10986/37746 10.1596/37746 English Enterprise Note Series; No.40 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank application/pdf text/plain World Bank, Washington, DC |
| spellingShingle | Jolevski, Filip Madzarevic-Sujster, Sanja COVID-19- A Struggling Recovery for the Private Sector in North Macedonia |
| title | COVID-19- A Struggling Recovery for the Private Sector in North Macedonia |
| title_full | COVID-19- A Struggling Recovery for the Private Sector in North Macedonia |
| title_fullStr | COVID-19- A Struggling Recovery for the Private Sector in North Macedonia |
| title_full_unstemmed | COVID-19- A Struggling Recovery for the Private Sector in North Macedonia |
| title_short | COVID-19- A Struggling Recovery for the Private Sector in North Macedonia |
| title_sort | covid 19 a struggling recovery for the private sector in north macedonia |
| url | http://documents.worldbank.org/curated/en/099510507192223011/IDU006176d3207d0304d65082d80322269d4b698 https://hdl.handle.net/10986/37746 |
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