Macedonia’s central bank is likely to raise its projection of economic growth in the country this year, the institution’s governor Dimitar Bogov said in an interview for Radio Free Europe. He noted that the growth forecast is still 2.2%, but after the announcement of the Q2 GDP data, it is expected to go up. While the central bank is now starting the work on its new projection, to be ready in late October, it can be expected that GDP growth will exceed 3% in 2013, Bogov added.
Macedonia’s real GDP growth reached 3.9% y/y in Q2, accelerating from 2.9% y/y in Q1, according to statistics office data. All sectors of the economy reported positive annual growth in Q2, except for hotels and restaurants, where value added contracted by a real 1.2% y/y. Construction was by far the best performing sector again, expanding by a real 33.2% y/y. In industry, real annual growth reached 4.1% in Q2, speeding up from 0.7% in Q1.
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