Macedonia Economic Outlook
February 6, 2018The economy performed modestly in the months following a return to growth in the third quarter. In the January-to-November period, average wages increased year-on-year in real terms. This likely boosted confidence in the retail sector, which reported favorable conditions in Q4. Moreover, although industrial production decreased year-on-year in December, overall industrial production swung to growth in Q4 after contracting in the Q3. In recent weeks, the governments of Macedonia and Greece have been engaged in resolving their dispute over Macedonia’s official state name, which would boost its chances of joining the EU. On 2 February, partly thanks to this, Fitch Ratings affirmed Macedonia’s long-term debt rating at BB and upgraded the outlook from negative to positive.
Macedonia Economic GrowthImproved political stability and relatively accommodative monetary policy should support the economy this year. However, despite government efforts to rein in the high fiscal deficit, it will remain a concern. Our panelists expect economic growth of 3.0% in 2018, which is down 0.1 percentage points from last month’s forecast, and 3.3% in 2019.
Macedonia Economy Data
5 years of Macedonia economic forecasts for more than 30 economic indicators.
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|Exchange Rate||49.93||-0.56 %||Feb 22|
|Stock Market||0.1||0.0 %||Feb 22|
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