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IMF increases N. Macedonia’s 2019 GDP growth forecast to 3.2%

IMF increases N. Macedonia’s 2019 GDP growth forecast to 3.2% IMF Author (bnm) License: all rights reserved.

SKOPJE (North Macedonia), October 16 (SeeNews) – The International Monetary Fund (IMF) said it has increased its projection for North Macedonia's 2019 economic growth to 3.2% from 3.0% predicted in April.

North Macedonia’s economic growth will further accelerate to 3.4% in 2020 and 3.5% in 2024, the IMF said in the October 2019 edition of its World Economic Outlook (WEO) report published on Tuesday.

The country’s gross domestic product (GDP) expanded by an estimated 2.7% in 2018, the IMF said.

North Macedonia's annual average consumer price inflation is expected to speed up to 1.4% in 2019 and 1.8% in 2020, compared to 0.8% in 2018.

The country's current account deficit is seen at 0.7% of GDP in 2019, and it is expected to further deepen to 1.2% of GDP in 2020 and 2.0% in 2024, according to the October 2019 WEO report. North Macedonia closed 2018 with a current account deficit of 0.3% of GDP.

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