Developing Social Accounting Matrix for Macedonia: a challenge ahead

Abstract

Abstract The Social Accounting Matrix (SAM), together with the SESAME approach, proved highly useful in providing the basis for in-depth analyses of all the socio-economic flows in the developed economies. The aim of this paper, after initial explanation of the theoretical foundations of these methods for the development analysis, is to contribute to raising the awareness of the urgent necessity for developing and implementing these methodological approaches in the Republic of Macedonia. Special attention is paid to the analysis of the current situation related to the readiness of the national statistical system to provide all the necessary statistical data and logistical support for a more efficient preparation and implementation of these methodological approaches in the national economy. The paper analyses in detail the data describing particularly important aspects of the position of workers on the labour market aimed to be used as a basis for the SESAME approach. A comparative analysis with reference to the EU countries has been performed. The paper concludes by presenting practical recommendations which should, in our opinion, lead to preparation and implementation of the SAM and its extension (SESAME) in the Republic of Macedonia. The named should be used for the successful decision-making process related to creation and implementation of efficient macroeconomic and development policies in the country.