North Macedonia, like most countries in Eastern Europe, has a developing economy. Under Yugoslavia, North Macedonia saw the establishment of many factories and the significant modernisation of the country, especially after the devastating Skopje earthquake of 1963. Since independence in 1991, it has suffered the transition to market economy. Greece, which believed that the republic was monopolising the cultural and historical heritage of Macedonia, imposed a temporary embargo in 1993 and had prevented the country's accession to organisations like the European Union and NATO, until the implementation of the Prespa agreement in 2019.