Davcev, Ljupco and Hourvouliades, Nikolas (2013) The Influence of the Greek Economic Crisis on FYROM Exports. Business & Financial Affairs, 3 (1). ISSN 2167-0234
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Abstract
According to the contemporary political and economic conditions, there is still an existing possibility for Greece to
exit the Euro zone. If this scenario comes true, it will further decrease FYROM imports from Greece, as this will most
probably result in the return of the Drachma with an assumed 50% devaluation to the Euro. On the other hand, FYROM
exports Greece will become equally more expensive. The economic crisis which currently trembles our neighbour
Greece has emerged as a new variable in the prediction and planning of economic activity along with main economic
variables in the Macedonian economy. Analysis of the economic and trade relations between Greece and FYROM
shows a steady decline during the last five years. FYROM exports to Greece in the first quarter of 2012 are at the lowest
level in the history of trade relations between the two countries, at €39m. Even worse is that the coverage of imports
from Greece with exports from FYROM is only 25.2 basis points, which is also at the lowest historical level. This is a
clear indication that FYROM is losing Greece, neighbouring country and EU member, as a significant business partner.
This paper is trying to determine the potential effects on Macedonia economy due to the contemporary Greek crisis,
taking into consideration that our neighbour is one of the largest investors and trading partners of FYROM.
| Item Type: | Article |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Economics |
| Depositing User: | Ljupco Davcev |
| Date Deposited: | 23 Jun 2014 10:08 |
| Last Modified: | 23 Jun 2014 10:08 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/10160 |
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