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IMF projects N. Macedonia's GDP to grow by 4% in 2021

IMF projects N. Macedonia's GDP to grow by 4% in 2021 Source:

SKOPJE (N. Macedonia), October 13 (SeeNews) - The International Monetary Fund (IMF) said it expects North Macedonia's economy to grow by 4% in 2021, slightly increasing its forecast for a 3.8% rise in gross domestic product (GDP) made in April.

North Macedonia's economic growth is further seen accelerating to 4.2% in 2022, the IMF said in the October edition of its World Economic Outlook report on Tuesday.

The country's average consumer price inflation is forecast at 3.1% in 2021 and 2.2% in 2022, compared to 1.2% last year, the IMF said.

North Macedonia's current account gap is projected to narrow to 2.1% of GDP in each of 2021 and 2022 from 3.5% in 2020.

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.