Tuesday, 20 November 2018 | News today: 22

NBRM downgrades economic growth projection to 2.3 percent

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The National Bank of the Republic of Macedonia (NBRM) has downgraded the economic growth projection from April’s 3.2 percent to 2.3 percent in its autumn economic revision.

In the projection period, a gradual recovery of the domestic economy is expected after the stagnation we faced in 2017, with a GDP growth of 2.3 percent in 2018 and a gradual further acceleration of growth in the next period and the achievement of certain solid growth rates of 4 percent in 2021  said NBRM Governor, Anita Angelovska Bezoska, at a press conference on Thursday.

The new projections, as she underlined, project stable domestic and external environment. Downward correction is a reflection of the weaker performance in the first half of the year when we expected economic growth of 3.3 percent, and the performances were 1.6 percent, with the biggest deviation in the segment of investments.

Therefore, in the comint period, the assumption that we embed on the revitalization of investments remains the main point of risk for the projection period, just like in the April projection, said Angelovska Bezoska.