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Macedonia's c-bank cuts 2015 GDP growth fcast to 4.1%

Macedonia's c-bank cuts 2015 GDP growth fcast to 4.1%

SKOPJE (Macedonia), November 15 (SeeNews) – Macedonia's central bank, NBRM, said on Friday it kept its forecast for the country's economic growth in 2014 at 3.7% but lowered its projection for next year to 4.1% from 4.4% due to the slower recovery of foreign demand.

In 2016 the country’s gross domestic product (GDP) is expected to grow by 4.5%, the NBRM said in a statement posted on its website.

In 2013, Macedonia's economy expanded by a real 2.7% on the year, according to the preliminary data of the country's statistics office.

NBRM projects that the country's average annual inflation will be around zero by the end of the year, before rising gradually to 1.0% in 2015 and 2.0% in 2016.

In 2013 the country's average inflation stood at 2.8%.

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