Tuesday, 21 November 2017 | News today: 4

Latest World Bank GDP growth projection for Macedonia at 1.5 percent

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The latest World Bank projection on Macedonia’s 2017 GDP growth stands at 1.5 percent.

The World Bank says in its October issues of the “Europe and Central Asia Economic Update: Migration and Mobility” that Macedonia’s GDP will rise by 3.2 percent in 2018, followed by 3.9 in 2019.

“Growth slowed to 2.4 percent in 2016 and turned negative in the first half of 2017 as political uncertainty affected investment, but is expected to recover closing the year at 1.5 percent, supported by consumption and growing investors’ confidence after a new Government took office in June 2017″, reads the report.

The World Bank expects the budget deficit to reach three percent of the GDP in 2017, dropping to 2.2 percent by 2019.

The WB’s GDP projection in April of this year stood at 2.8 percent.

In regional terms, the Western Balkans economy is expected to rise by 2.8 percent in 2017, 3.2 percent in 2018, up to 3.5 percent in 2019.