World Bank keeps Macedonia's GDP growth forecast at 3% in 2014

By bne IntelliNews January 16, 2014

The World Bank sees Macedonia's economy expanding by 3% in 2014, according to the January edition of its Global Economic Prospects report. The projection is unchanged from December 2013, when the Bank published its regular SEE economic report.

It has also kept its estimate for the Balkan country’s 2013 GDP growth, which remains 2.5%.

The World Bank’s 2014 forecast is slightly below the government’s projection for 3.2% GDP growth this year, used in the preparation of the 2014 budget. Both are higher than the European Commission’s forecast of 2.5% economic growth in Macedonia in 2014, announced in November 2013.

According to the World Bank, Macedonia's GDP growth will accelerate to 3.5% in 2015 and further to 3.7% in 2016.

The country's current account gap is seen widening to 4.5% of GDP in 2014 from 3.2% of GDP in 2013. The C/A deficit is projected to rise further in 2015 and 2016 - to 5.7% of GDP and 6.1% of GDP, respectively.

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