Macroeconomic Forecast Macroeconomic Forecasts - Macedonia

In spite of a widened trade deficit, Macedonia recorded a current account surplus of US$12.5mn over the first two months of 2007, up from a deficit of US$26.9mn recorded over the same period in 2006. Rising remittances, which increased nominally by 35% y-o-y in January-February to US$181.41mn were the main factor, though a small income surplus of US$10.8mn also helped to push the overall current account into the black. These latest figures are in line with our forecast for Macedonia to post a 0.4% of GDP current account surplus in 2007.

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