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Jun 07, 2023 13:08 EEST
June 7 (SeeNews) - The World Bank said it expects North Macedonia's economy to expand by annual 2.4% in 2023, keeping its January projection unchanged.
North Macedonia's economic growth will slightly accelerate to 2.7% in 2024 and 2.9% in 2025, the World Bank said in its June 2023 Global Economic Prospects report published on Tuesday.
The regional GDP growth of the Western Balkans is forecast at 2.6% in 2023, reflecting spillovers from Russia’s invasion of Ukraine, lower private consumption, tight global financial conditions, and weaker growth of demand from the euro area, the World Bank noted.
North Macedonia's economy is estimated to have expanded by 2.1% in 2022.
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