Biljana Tasheva


As a consequence of global instability, the economy of almost all countries of the world has significantly deteriorated. The outbreak of war between Russia and Ukraine has led to an even bigger energy crisis and high import inflation. The policies of most countries are proving to be inadequate and ineffective. From that aspect, the purpose of this research is to analyze the situation with inflation movements and economic growth in the Republic of North Macedonia and the Republic of Bulgaria in 2022 (Q2). From the research, it has been determined that in the analyzed period, in both analyzed countries, economic activity has decreased, economic growth has slowed down, on the contrary, inflation has accelerated further, and external debt has increased. Constant analyzes of macroeconomic trends contribute to vigilant monitoring of the current situation, hence the adoption of appropriate domestic policies and proper management of enterprises from the energy sector.

Keywords: inflation; economic growth; energy crisis; Republic of North Macedonia; Republic of Bulgaria 

JEL Codes: E00; E3; E5


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To cite this article: Tasheva B. (2023). Analysis of the inflation and economic growth in the Republic of North Macedonia and the Republic of Bulgaria. Entrepreneurship, 11 (1), 79-97 DOI: 10.37708/ep.swu.v11i1.7