Macroeconomic Forecast Macroeconomic Forecasts - Macedonia

Macedonia's economy expanded by an impressive 7.0% y-o-y in the first quarter. Strong output growth of 11.6% y-o-y in the mining, manufacturing and utilities sector and 13.6% y-o-y for wholesale and retail trade were key factors. The construction sector was also robust, increasing by 5.8% y-o-y. In line with these latest figures, we have revised upward our real GDP growth forecast through to the end of our five-year forecast period. We are now forecasting the economy to expand by 5.7% this year, with growth accelerating to 6.0% in 2008 and 6.2% in 2009.

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