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North Macedonia
32
Moderate
Risk
Risk
#108
of 171
Safer
than 37% of currencies
37
global avg score
$842
$1,000 in 5 years
Impact on Citizens
Citizens need modest returns of 5.0% per year to keep up. Inflation is low — a basic savings account or index fund is enough to stay ahead.See savings calculator ↓
Economic Indicators
Inflation Rate
3.5%
Debt to GDP
Not available
GDP Growth
3.0%
Broad Money / GDP
60.5%
Banking & Stability
NPL Ratio
2.7%
Reserve Months
4.6
Current Account
-2.1%
FX Volatility
7.2
Governance & Markets
Rule of Law
Not available
Black Market Premium
Not available
Capital Controls
8.0
Peg Fragility
31.7
Currency Structure
Global Currency Role
70.0
FX Regime
hard peg
Data Coverage
75.0%
Savings Impact Calculator
MKD
Holding cash in MKD3.5% inflation
MKD 842−MKD 158 (16% purchasing power lost)
Your MKD 1,000 buys 16% less in 5 years
What if you invested MKD 1,000 instead? (5yr, in MKD terms)
Hold USD Cash
MKD 881
−MKD 119
-2.5%/yr net in MKD
S&P 500
MKD 1647
+MKD 647
range: MKD 753–MKD 3238
10% USD return + 0.5% FX · ±16% vol
Gold
MKD 1503
+MKD 503
range: MKD 431–MKD 4082
8% USD return + 0.5% FX · ±24% vol
Bitcoin
MKD 3112
+MKD 2112
range: MKD 187–MKD 18.6k
25% USD return + 0.5% FX · ±54% vol
All values in MKD. USD-denominated assets (S&P 500, Gold, Bitcoin) include an estimated FX gain of ~0.5%/yr based on the inflation differential between North Macedonia (3.5%) and the US (~3%). This uses purchasing power parity as a long-run approximation — actual FX movements can differ significantly in the short term. S&P 500 based on 1957-2024, Gold on 2000-2024, Bitcoin on 2015-2024. Past performance does not guarantee future results. Not financial advice.
Data last updated: 2026-05-21