The public sector in Macedonia as per the IMF’s Global
Financial Stability indicator (GFS - IMF 2014) definition
incorporates: central government; local government;
non-financial corporation sector (Electricity Generation
Company, AD ELEM and Electricity Transmission
Company, AD MEPSO) and financial corporation sector
(Macedonian Bank for Development Promotion).
The central government revenues are around 31% of the
GDP in 2015 and the local government revenues are
around 5.4% of the GDP in 2015. The public debt is
around 50.6% of GDP in Q3 2016 and the employed
persons in the public sector represent 23.4% of the total
employed persons in Q3 201650.
Some general observations from the public sector data in
Macedonia are that the central government and funds in
Macedonia are around 30% of the GDP thus; the size of
the government measured with this indicator is relatively
low compared to other transition countries and compared
to the OECD countries (Nikolov, 2009a). Further, local
government in Macedonia is a bit more than 5% of the
GDP and this is comparable with the other South East
Europe (SEE) countries but it is lower than the developed
countries in EU (NALAS, 2016; Nikolov, 2013). Note
also that the finances of the Public Utility Companies
(PUC) owned by the local governments in Macedonia
are not consolidated with the presented data.