IMF lowers Macedonia’s 2018 GDP growth forecast to half

The Macedonian government in lack of economic awareness, IMF lowered GDP forecast in half: The yearly forecast was pointed at 3.2%, now the IMF says Macedonia will reach only 1.6%.


The International Monetary Fund (IMF) said on Tuesday it has lowered its projection for Macedonia's 2018 economic growth to 1.6% from 2.8% it predicted in April.

Macedonia’s economic growth will accelerate to 2.6% in 2019 and 3.4% in 2023, the IMF said in October 2018 edition of its World Economic Outlook report.

The country’s gross domestic product (GDP) posted zero growth in 2017, the IMF said.

Macedonia's annual average consumer price inflation is expected to slow to 2.0% in each of 2018 and 2019, compared to 2.4% in 2017.

The country's current account deficit is seen at 1.1% of GDP in 2018, and it is expected to further deepen to 1.6% of GDP in 2019 and 2.6% in 2023, according to October 2018 WEO report. Macedonia closed 2017 with a current account deficit of 1.3% of GDP.

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