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.

Related Articles

Macedonias 2013 tobacco crop expected to exceed 30,000 tonnes.

Macedonias tobacco crop is expected to increase by 20% to over 30,000 tonnes in 2013, Utrinski vesnik daily reported quoting Danco Mileski, president of the countrys tobacco association. The ... more

Macedonia cancels tender for gas distribution network feasibility study.

The transport ministry has cancelled the tender for preparing a feasibility study for developing the countrys natural gas distribution network, build.mk portal reported. Reportedly, two bids were ... more

Komercijalna Banka wins Global Finance award Best Bank in Macedonia for 2013.

Large-sized commercial bank Komercijalna Banka announced that it has won the award Best Bank in Macedonia for 2013 by the magazine Global Finance. The Macedonian bank wins the award for a 10th ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss