IMF cuts GDP growth forecasts for Macedonia for 2012, 2013 WEO.

By bne IntelliNews October 9, 2012
The IMF projects that Macedonias real GDP will increase by 1% in 2012 and by 2% in 2013, according to its latest World Economic Outlook (WEO) edition. In April, the IMF projected growth rates of 2% for this year and of 3.2% for next year. However, since then statistics office data showed that Macedonias real GDP contracted by 1.3% y/y in Q1 and by 0.9% y/y in Q2. In the latest WEO, the IMF projects that Bulgarias economy will expand by 1% in 2012, a growth rate equal to the forecast for Macedonia. The two countries are expected to outperform Albania (0.5% growth), Montenegro (0.2%), Bosnia (0%), Serbia (a 0.5% drop) and Croatia (a 1.1% drop). On the other hand, real GDP in Kosovo is projected to expand by 3.8% this year. In the October WEO, the IMF forecasts consumer price inflation in Macedonia of 2% in both 2012 and 2013. Macedonias annual CPI inflation was 2.8% in Jan-Sep, the statistics office said on Oct 1. The IMF also projects CA deficits of 4% of GDP this year and 6% of GDP next year.

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