Executive Director Blagica Petreski Selected as an IMF Academic Fellow

🎉 Executive Director Blagica Petreski Selected as an IMF Academic Fellow! 🌍

This prestigious recognition is not only a personal achievement but also a significant opportunity for Finance Think to transfer knowledge, innovate new topics, and implement the latest global economic trends. 📊💡

This experience continues Finance Think’s successful mission of shaping innovative policies and research! 🌟

📣Read out newest FT #Comment 39, on the economic part of the EC Progress Report

‼️ Critical Points in Economic Reforms Highlighted in the Report:

  • Fiscal Risks 💸: Increased and insufficiently monitored overdue and unsettled obligations.
  • Fiscal Rules 📜: Non-compliance ahead of the start of their implementation (January 1, 2025).
  • Inflation and Policies 📈💼: Misaligned expansive fiscal and contractive monetary measures.
  • Public Finance Reforms 🕰️: Slow progress and implementation of public finance management reforms.
  • Budget Transparency 👀: Low level below the global average.
  • Informal Economy 🌐🛠️: Insufficient progress in tackling unregistered work and partially declared wages.
  • State Aid 🤝: Unsatisfactory transparency and efficiency, with weak competencies in the Competition Protection Commission.

More details 🖇 shorturl.at/9Y5HO

A paper in Economic Annals, regional journal in Scopus

📓 A segment from our #study on Policy 5️⃣1️⃣: Fiscal Space in the Western Balkans: Evidence from the Recent Multilayered Crisis has been published in the regional scientific journal Economic Annals.
“The Fiscal Space and the Fiscal Stimulus During Crisis in the Western Balkans”. Economic Annals, 69(242), p.7-25.
The journal is indexed in Scopus.
🖇 doi.org/10.2298/EKA2442007P
The study was conducted with the support of SMART Balkans.

Blagica Petreski in the podcast “Where’s the Money with Goran Temenugov”

1/4 (quarter) of women are housewives and outside the labor market

Around 250,000 women in the country are housewives and outside the labor market, at a time when companies are importing workers from abroad. A scientific study by “Finance Think” uncovered the reasons why women are not working, but also provided guidelines on how this situation can be changed. For this study, as well as the government’s fiscal policy, Goran Temenugov spoke with Blagica Petreski from Finance Think on the podcast “Where’s the Money?” on Pari.com.mk.

Finance Think at the Forum of Civil Society Organizations and Think Tanks in Berlin

From October 9 to 11, our Marija Bašeska participated in the 2024 Forum of Civil Society Organizations and Think Tanks, organized within the framework of the Berlin Process.

Over the course of three conference days, various panel discussions conveyed the recommendations developed by civil society organizations during the preparatory workshop, addressing topics related to the Berlin Process and other current issues.

The forum was organized by the Aspen Institute Germany and Südosteuropa-Gesellschaft e.V.

#BerlinProcess2024 #WesternBalkans #CSF2024 #WB6

Building Alliances for Responsible Budgeting in the Western Balkans

From October 2-4, 2024, the International Budget Partnership organized a meeting with partners in Belgrade, Serbia, focusing on 🤝💼 building alliances for responsible budgeting in the Western Balkans.
Finance Think is a partner of the International Budget Partnership. Our Despina Tumanoska actively participated in the event. Our commitment includes sharing resources 📚, establishing coalitions 🤲, and promoting budget advocacy initiatives 📊 in our country.
📣 In the coming period, we will release an analysis on fiscal sustainability in North Macedonia.
#FiscalTransparency #PublicAdvocacy #WesternBalkans

The causes of female inactivity can be addressed gradually and in the long term

Finance Think – the Economic Research and Policy Institute, Skopje, has published the study “Behind the Curtain: How Cultural Norms, Gender Stereotypes, and Attitudes Toward Work Shape Female Inactivity in the Labor Market in North Macedonia” (link), as part of its series on empowering women’s economic potential. The inactivity rate for women in the labor market is high (57.2%), with every second working-age woman neither employed nor seeking work. The low participation of women in the labor market results from multiple factors: limited childcare support, lack of flexible work arrangements, cultural barriers, and domestic responsibilities. This situation leads to unrealized economic potential, negatively impacting economic growth and productivity. Half of the inactive women in the labor market are categorized as housewives. The value of housewives’ work is estimated at 8% of Gross Domestic Product (GDP), while the value of the time women spend on unpaid household work and care is estimated at 25.3% of GDP.

The study aims to identify the causes of women’s inactivity in the labor market in North Macedonia, based on the analysis of cultural norms, gender stereotypes, and individual attitudes toward work, as well as the personal and family characteristics of women.

The results show that women in North Macedonia are 8.8% to 22.3% more likely to be inactive, with age, education, and marriage being important determinants.

We identified four factors contributing to women’s inactivity in the labor market:

  1. Gender Stereotypes, Discrimination, and Cultural Norms for Childcare: This factor shows that deeply ingrained societal perceptions of gender roles and gender-based discrimination play a key role in limiting women’s participation in the workforce.
  2. Attitudes Toward Work and Childcare Norms: Positive attitudes toward work motivate women to seek employment, while negative attitudes and traditional childcare responsibilities discourage labor market participation. Attitudes toward work are significant when a woman has no more than two children, but the effect on inactivity is stronger when a woman has no children.
  3. Cultural Norms for Childcare: This factor shows that caregiving priorities strongly affect women’s participation in the labor market.
  4. Domestic Responsibilities: Traditionally perceived as female tasks, these further limit women’s time and opportunities for employment.

However, these factors affect women differently depending on age. For women aged 18 to 34, only negative attitudes toward work significantly predict inactivity, indicating that for younger women, perceptions about work influence their activity. For these women, gender stereotypes and cultural norms are less important, which may be seen as a positive change. In the 35 to 49 age group, negative attitudes continue to play a role, but gender stereotypes begin to have a stronger effect. For women aged 50 to 64, attitudes toward work and traditional cultural norms significantly influence inactivity.

The impact of these factors also depends on education. For women with primary or secondary education, gender stereotypes play an important role, especially among middle-aged women. In contrast, for women with higher education, the influence of these cultural factors significantly decreases or disappears.

The analysis uses data from the European Values Survey (EVS) for North Macedonia, which provides information on the social and cultural values of 1,117 individuals aged 18 and older.

At “Café with Journalists”, we presented our latest Study

📍Today, at “Café with Journalists” we presented our latest 📖 Policy Study 5️2: Behind the curtain: Cultural norms, gender stereotypes and attitudes about work shape the #inactivity of women on the labor market in North Macedonia.
Link to the study 🖇shorturl.at/694PM