Macedonian government's growth forecast for 2012 is too high - IMF.

By bne IntelliNews December 1, 2011
Wes McGrew, head of the IMF mission to Macedonia, said that the country's economic growth next year will be significantly lower than the government's forecast (which is for 4.5% y/y GDP growth), Utrinski vesnik daily reported. He emphasized that the government should be ready to cut budget spending. McGrew added that it is important that the country keep the low public debt. He also recommended that the government should focus on domestic borrowing, thus limiting expansion to foreign debt markets. An IMF mission is currently on a visit to Macedonia, performing the second review under a precautionary credit line arrangement signed in early 2011.

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