Macedonia’s economic performance in line with projections – central bank.

By bne IntelliNews August 5, 2013

The central bank said that Macedonia’s key macroeconomic parameters moved in line with the latest forecast made in April. Real GDP increased by 2.9% y/y in Q1 2013, the statistics office said in June. The central bank comments that this growth is slightly higher than the April projection, due to better than expected performance of investment demand and net exports. The available data for Q2 2013 also indicate that the economy remained in the zone of steady growth, in line with the projected path.

The central bank expects the country’s GDP to grow by 2.2% this year. The latest statistics office data showed that GDP dropped by 0.2% in 2012. The central bank’s projection of 2013 growth in Macedonia is higher than those made by the World Bank (1.4%), the EBRD (1.5%), the European Commission (1.5%) and the IMF (2%).

Annual inflation was 3.6% in Q2 2013, in line with expectations. The monetary authority sees the inflation risks as balanced and projects annual inflation of 2.8% in 2013.

The central bank said that it was a net seller of foreign currency, in line with expectations. The indicators of the foreign reserves’ adequacy remain favourable and the reserves are seen to be at a comfortable level.

Related Articles

Freedom House keeps “partly free” status for Macedonia despite new government’s efforts

Macedonia was rated only “partly free” in the latest report from international watchdog Freedom House, the same almost all of the six Western Balkan countries, despite efforts by the ... more

Macedonia issues €500mn 7-year Eurobond with historic low interest rate

Macedonia issued on January 11 a seven-year €500mn Eurobond with an annual interest rate of 2.75%, the finance ministry said. This is the sixth Eurobond issue placed so far by Macedonia’s ... more

Macedonia's opposition VMRO-DPMNE elects new leader

Macedonia’s biggest opposition party, VMRO-DPMNE, elected Hristijan Mickoski as its new leader at an extraordinary congress on December 23. Mickoski was elected amid frictions in the ... more