The Legal 500

Macedonia > Legal market overview

Macedonian law firms are cautiously optimistic, as the government’s efforts to attract foreign investment seem to be bearing fruit by encouraging modest growth in certain industries – particularly tourism and energy – but, to a large extent, the economy remains dependent on developments in the EU. Thanks to a prudent monetary policy the financial system has remained relatively stable in the economic downturn and international investors clearly still view it as an attractive market. According to the latest progress report from the EU in October 2011, the former Yugoslav Republic of Macedonia (FYROM) fulfils the political criteria for EU accession.

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