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CONTENTS

Table 1: Republic of Macedonia - Basic Macroeconomic Indicators  
Table 2: Basic Macroeconomic Indicators in the Selected Transitional Economies  
Table 3: Gross Domestic Product (real growth rates)
 
Table 4: GDP (Expenditure approach)  
Table 5: GDP (Production approach)  
Table 6: Basic short-term macroeconomic trends  
Gross Domestic Products  
Prices  
Foreign Trade  
Short term economic developments in the Republic of Macedonia (May 2005)  
Foreign debt of the Republic of Macedonia  
Total public debt in 2004 and the firs half of 2005  
Table 7: Revenues and Expenditures of the Central Budget of the Republic of Macedonia (According to the GFS methodology)  
Table 8: Budget - Central Government  
Table 9: Functional classification of Central Budget expenditures  
Table 10: Consolidated budget of the Republic of Macedonia  
Table 11: Balance of Payment of the Republic of Macedonia  
Table 12: Pension and Disability Insurance Fund  
Table 13: Health Insurance Fund  
Table 14: Employment Fund  
Table 15: Road Fund  
Macedonian Stock Exchange – May 2005  
Table 15: Macedonian Stock Exchange - Report on Trading, 01.05– 28.05.2005  
Money and Short-term Securities Market  
Deposits of physical persons at the banks and savings houses  
Interest rates on denar and foreign exchange deposits at the commercial banks in the Republic of Macedonia  
Information on credit lines for small and medium- size enterprises  

ARTICLES
--- In Brief  
The Economist How far will it go?  
Prof. Goce Petreski, Ph.D. Unemployment and growth in the Republic of Macedonia  
Petar Stojanov Conditions and perspectives of development of the cooperation between the Russian Federation and the Republic of Macedonia  
Olivera Cvetanovska Crude oil price trends and the growth of trade deficit of the Republic of Macedonia  
Miso Nikolov Different balance of payments analysis  
Finance and Development Fiscal space: what it is and how to get it