Macedonian economy to grow by 1.5 pct in 2017: World Bank

Macedonia is expected to register a 1.5 percent economic growth in 2017, the World Bank said Friday in its latest projection on Macedonia's 2017 GDP growth.

In its April forecast, the World Bank said that Macedonian economy would grow by 2.8 percent.

"Economic growth slowed to 2.4 percent in 2016 and turned negative in the first half of 2017 as political uncertainty affected investment, but is expected to recover closing the year at 1.5 percent," the report said.

According to the World Bank, Macedonia's economic growth, although moderate, will be supported by consumption and growing investors' confidence after the new government took office in June 2017.

However, the World Bank is more optimistic for the upcoming years since it forecasts a higher economic growth.

"Macedonia's GDP will rise by 3.2 percent in 2018, followed by 3.9 percent growth in 2019," it said in its October issues of the "Europe and Central Asia Economic Update: Migration and Mobility."


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