Macedonia Economic Outlook
May 7, 2019Economic momentum likely carried over into the first quarter of the year from Q4 2018’s robust outturn. Industrial production grew healthily throughout Q1, which fed through to a strong rise in merchandise exports in January–February. Tourism recovered in February and, consequently, the number of tourist arrivals for January and February rose in annual terms. Nevertheless, retail sales weakened throughout the quarter, hinting at softer private consumption in Q1. On the political front, the pro-Western candidate Stevo Pendarovski was voted in as the country’s new president on 5 May. As the presidential role is primarily ceremonial, the government’s economic priorities are unlikely to change significantly.
Macedonia Economic GrowthThe economy should gain ground in 2019. Tailwinds from potential progress on the EU-accession agenda should foster greater FDI inflows and improve the business climate, which should in turn support the recovery in investment. Meanwhile consumer spending will likely remain strong. Economic growth could be weighed on by a structural slowdown in the EU, however. FocusEconomics panelists expect GDP to expand 3.0% in 2019, which is unchanged from last month’s forecast, and 3.2% in 2020.
Macedonia Economy Data
5 years of Macedonia economic forecasts for more than 30 economic indicators.
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|Exchange Rate||54.77||-0.56 %||May 13|
|Stock Market||0.1||0.0 %||Nov 26|
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