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Economy / Macedonia

Macroeconomic Forecast Macedonia

July 2006 | Macroeconomic Forecasts

BMI View: Macedonia is a small and relatively open economy. The trade deficit is still very high at around 20% of GDP, and we do not think that this is going to contract significantly any time soon, given the ongoing growth of both export and import volumes. That being said, we do not forecast a liquidity or balance of payments crisis looming either. As with other countries in south-east Europe, a deficit on the trade account has historically been covered by FDI and remittance inflows, both of which should remain resilient over the coming years.

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