EBRD raises Macedonia's growth, inflation forecasts for 2011.

By bne IntelliNews July 24, 2011
The EBRD has announced updated economic projections for the countries where it operates, raising the 2011 real GDP growth forecast for Macedonia to 3.1%, up from 2.5% forecasted in May. On the other hand, the EBRD has lowered by its growth forecast for 2012 to real 3%, down from 3.1%. GDP is projected to increase by 0.3% y/y in Q4 2011 and by 5.2% y/y in Q4 2012. The institution notes that Macedonia is among the countries benefiting from the global demand for key metal commodities from the region. The EBRD also comments that economic growth in Macedonia is further driven by an ongoing boom in construction. The EBRD also published its latest projection for the average inflation in Macedonia in 2011, which is 5.1%, up from 4.3% forecasted in May.

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