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EBRD projects Macedonian economy to rise 1.8%
Monday, 21 January 2013

The latest projection by the European Bank for Reconstruction and Development (EBRD) over the growth of the Macedonian economy in 2013 is 1.8 percent.

 

According to the bank's latest economic outlook, Macedonia was affected significantly by the Eurozone crisis in 2012, which weakened demand for exports and led to a drop in investment and remittances.

"The fiscal deficit target was raised from 2.5 per cent of GDP to 3.5 per cent. The economy contracted in the first six months on a year-to-year basis, with no discernible recovery in the rest of the year. A modest upturn is likely in 2013", says EBRD.

 

In regional terms, the economies of Croatia and Montenegro will rise by 0.8 percent, Bulgaria - 1.9, Albania - 2, Serbia - 2.1, Kosovo - 3.

 

Pertaining to Southeast Europe, EBRD says confidence and investment remain at low levels, macroeconomic policy is highly constrained on the fiscal side and financial sector vulnerabilities are still significant. The region is highly exposed to developments in the Eurozone, and within it to its periphery, the main market for exports.

 


  

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