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IMF raises N. Macedonia’s 2019 GDP growth forecast to 3.0%

IMF raises N. Macedonia’s 2019 GDP growth forecast to 3.0% Bradley Howard/CC BY 2.0

SKOPJE (North Macedonia), April 10 (SeeNews) – The International Monetary Fund (IMF) said it has increased its projection for North Macedonia's 2019 economic growth to 3.0% from 2.6% it predicted in October.

North Macedonia’s economic growth will further accelerate to 3.1% in 2020 and 3.5% in 2024, the IMF said in the April 2019 edition of its World Economic Outlook 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 accelerate to 2.0% in each of 2019 and 2020, compared to 0.8% in 2018.

The country's current account deficit is seen at 1.2% of GDP in 2019, and it is expected to further deepen to 1.5% of GDP in 2020 and 2.0% in 2024, according to the April 2019 WEO report. North Macedonia closed 2018 with a current account deficit of 0.3% of GDP.

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