April 6 (SeeNews) - The International Monetary Fund (IMF) said on Tuesday it expects North Macedonia's economy to grow by 3.8% in 2021, lowering its forecast for a 5.5% rise in gross domestic product (GDP) made in October.
North Macedonia's economy is expected to expand by 4% in 2022, the IMF said in the April edition of its World Economic Outlook report.
The country's average consumer price inflation is seen at 2% in 2021 and 1.5% in 2022, the IMF said.
North Macedonia's current account gap is forecast to narrow to 3.2% of GDP in 2021 from 3.5% in 2020. In 2022, the current account deficit is seen shrinking to 2.8%.
North Macedonia's economic output declined by an estimated 4.5% year-on-year in real terms in 2020, the country's statistical office said last month, citing preliminary data. The IMF gave the same estimate in its report.