The World Bank said on Thursday it has lowered its forecast for Macedonia's 2017 economic growth to 1.5% from 2.8% projected previously.
“Affected by the political uncertainty in the first half of the year, growth is expected to decline to 1.5 percent in 2017,” the World Bank said in its Europe and Central Asia Economic Update, October 2017: Migration and Mobility report.
The main growth drivers are expected to be consumption, fueled by rising employment, and investments, both public and private, the lender said.
The bank also lowered its forecast for Macedonia's gross domestic product (GDP) expansion in 2018 to 3.2% from 3.3% anticipated in June.
In 2019, the lender expects Macedonia's economy to expand by 3.9%.
The country’s consumer price inflation is projected to accelerate steadily from 0.9% this year to 1.6% in 2018 and 2.0% in 2019.
Macedonia's fiscal deficit is expected to gradually decline from 3.0% of GDP in 2017 to 2.7% next year and 2.2% in 2019.
SOURCE: SEENEWS
