Macedonia's central bank revises down 2012, 2013 GDP growth projection.

By bne IntelliNews August 2, 2012
Macedonias central bank said that this years real GDP growth will be around 1%, down from 2% expected in April. Growth is expected to accelerate to about 3% in 2013, a slightly lower forecast than 3.7% projected in April. The monetary authority comments that the expected path of the foreign demand for Macedonian products continues to be a decrease in 2012 and a moderate increase in 2013, but in the latest projection the drop this year is deeper and the growth next year is weaker. The institution also expects domestic demand to strengthen next year on the back of the announced foreign investments as well as the public investments. The central bank also expects average inflation of about 2.2% both in 2012 and 2013. Loan growth is seen at 8% this year and 10% next year. The monetary authority also projects CA deficits of 2.9% of GDP in 2012 and 3% of GDP in 2013.
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