Fiscal policy in Macedonia shifts from pro to counter-cyclical post-1996.
The research looked at how the government's spending and income changed in Macedonia from 1991 to 2009 based on the country's economic situation. They found that before 1996, the government spent more when the economy was doing well, but after 1996, they started spending more when the economy was struggling. This change happened after a difficult transition period and a shift in how the government managed money. The study also considered other factors like conflicts and debt. The results show that the government's financial decisions shifted from following the economy's ups and downs to trying to balance them out.