Macedonia Economic Outlook
November 27, 2018The Macedonian economic recovery liked picked up in the third quarter, carried by a strong external sector and despite weak investment dynamics. In mid-November the government approved the 2019 draft budget, which proposes further fiscal consolidation efforts. The lion’s share of expenses is dedicated to the pension system, followed by social assistance benefits, while more capital spending is allocated on water, road and rail infrastructure. The government projects the fiscal deficit to narrow to 2.5% of GDP. FocusEconomics panelists, however, expect a wider deficit given their projections of softer GDP growth.
Macedonia Economic GrowthEconomic growth is expected to accelerate in 2019, boosted by a pick-up in investment spending, an improving labor market and sustained FDI inflows. However, structurally high unemployment and less favorable external dynamics could hinder growth prospects. FocusEconomics panelists expect the economy to grow 3.0% in 2019, which is unchanged from last month’s forecast, and 2.8% in 2020.
Macedonia Economy Data
5 years of Macedonia economic forecasts for more than 30 economic indicators.
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|Exchange Rate||54.13||-0.56 %||Dec 12|
|Stock Market||0.1||0.0 %||Nov 26|
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