World Bank: Macedonian economy to rise 3.2 percent in 2018


Macedonian economy will rise by 3.2 percent in 2018, says the World Bank in its latest Global Economic Prospects report.

The World Bank says unemployment, fiscal consolidation and possibility for increase of the fiscal deficit due to announced expenses for infrastructure projects remain the main problems in the country following the prolonged political crisis, which has affected the economy.

The bank projects a 3.9-percent GDP growth in 2019, followed by 4 percent in 2020.

Regarding last year's GDP growth, the World Bank says it will stand at 1.5 percent.

In regional terms, the World Bank says Kosovo will post a 4.8 percent GDP growth in 2018, followed by Albania (3.6%), Bulgaria (3.3%), Bosnia-Herzegovina (3.2%), Serbia (3%), Montenegro (2.8%), and Croatia (2.6%).

The World Bank forecasts global economic growth to edge up to 3.1 percent in 2018 after a much stronger-than-expected 2017, as the recovery in investment, manufacturing, and trade continues, and as commodity-exporting developing economies benefit from firming commodity prices.

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