The Finance Think analytical group warns that Macedonia won’t be able to meet its 4 percent GDP growth projection for 2022, due to the war in Ukraine.

Uncertainty is elevated at the start of 2022, due to the increase in food and energy prices at the global level. Outlook is made even worse by the Russian invasion on Ukraine, the group say.

Macedonia grew by 2.3 percent in Q4 of 2021, or a total of 4 percent for the past year. Growth came mainly from services, while manufacturing dropped 4.8 percent.