IMF lowers Macedonia 2017 GDP forecast to 2.5%

The IMF has also revised down its forecast for Macedonia's economic growth in 2018 to 3.2% from 3.4% projected in April, it said in the October edition of its World Economic Outlook report, published on its website on Tuesday.

The country’s gross domestic product (GDP) grew by 2.4% last year, the IMF said.

The Fund also said it expects Macedonia to swing to a 1.7% average annual inflation in 2017 from a 0.3% deflation in 2016. Inflation is anticipated to remain at 1.7% in 2018.

Macedonia's current account deficit is projected at 2.3% of GDP in 2017 and is expected to widen to 2.5% in 2018.