January 12 (SeeNews) - The World Bank said that North Macedonia's gross domestic product (GDP) is expected to expand by 3.7% in 2022 after increasing by an estimated 4% in 2021.
In 2023, North Macedonia's economic growth is expected to further slow down to 3.4%, the World Bank said in its January 2022 Global Economic Prospects report published on Tuesday.
In its June edition of the report the global lender estimated North Macedonia's GDP will grow by 3.5% in 2022.
The regional GDP growth of the Western Balkans is forecast at 4.1% in 2022, the World Bank noted. The region's economic growth in 2021 is estimated at 5.9%.