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IMF lowers Macedonia 2017 GDP forecast to 3.2%


The International Monetary Fund (IMF) has lowered its projection for Macedonia's 2017 economic growth to a real 3.2%, from 3.5% forecast in October 2016, according to the latest edition of the global lender's World Economic Outlook (WEO) report.

Macedonia's economic growth will speed up to 3.4% in 2018 and will reach 3.8% in 2022, the IMF predicted in the April edition of its WEO report published on Tuesday.

The country posted economic growth of 2.4% last year, the IMF said

The Fund also said it expects Macedonia to swing to 0.6% average annual inflation in 2017, from 0.2% deflation in 2016. Inflation is projected at 1.7% in 2018 and 2.0% in 2022.
Macedonia's current account deficit is projected at 1.8% of GDP in 2017, and is expected to increase to 2.0% in 2018 and 3.0% in 2022, the IMF said.

The World Bank recently also lowered its projection for Macedonia's 2017 real GDP growth, to 2.8%, citing persisting political instability in the country. The bank expects Macedonia's GDP growth rate to rise to 3.3% in 2018.

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