The World Bank expects Macedonias economy to post a zero growth this year and expand by 1% in 2013, the bank said in a regular report covering the six Western Balkan countries - Albania, Bosnia and Herzegovina, Kosovo, Macedonia, Montenegro and Serbia. The World Banks forecast for 2012 is in line with a projection made by the International Monetary Fund (IMF) earlier this week but the fund is a bit more optimistic about Macedonias economic development in 2013 when it is expected to post a GDP growth of 2%. The World Bank expects the combined economies of the six countries in the Western Balkans to shrink by 0.6% in 2012 and expand by 1.6% in 2013 adding that the countries are highly vulnerable to potential problems in the Eurozones recovery and high commodity prices. "The Western Balkan countries are in a "double dip" recession with massive unemployment and major downside risks," the bank said, warning that in four out of the six countries unemployment is above 25% - Serbia and Bosnia have rates higher than 25%, Macedonia's jobless rate is about 31% and Kosovo leads the region, with 45. |
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
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
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