May 25 (SeeNews) - Macedonia's finance ministry said it sees the country's budget deficit in 2019 falling to 2.5% of the gross domestic product (GDP) on the back of higher revenue projections, from 2.7% in 2017 and as much projected for this year.
By 2012, the country's budget deficit is expected to shrink to 2% of GDP, the ministry said in its 2019-2020 fiscal strategy report.
The finance ministry projects that Macedonia's economic growth will accelerate from 3.2% in 2018 to 3.5% in 2019 and 4.0% in 2020.
Gross investments are seen growing by an average 5.5% in the period 2019-2021, mainly supported by investments in domestic and foreign companies and public sector.
Inflation is seen rising from a projected 1.7% in 2018 to 2% in 2019 and 2020.
Public debt is planned to rise to 43.6% of GDP in 2019, and further to 43.8% in 2020, from 41.1% of GDP projected in 2018.
Details follow (in pct):
|
2018 |
2019 |
2020 |
Real GDP growth |
3.2 |
3.5 |
4.0 |
Inflation |
1.7 |
2.0 |
2.0 |
Exports |
10.1 |
9.0 |
9.6 |
Imports |
7.4 |
8.1 |
8.5 |
Unemployment |
21.5 |
20.5 |
19.6 |
Source: Ministry of Finance