Macedonia Economic Outlook
October 2, 2018The Macedonian economy had a stellar performance in the second quarter, expanding at the fastest rate since Q4 2016. Growth was buoyed by the external sector, which experienced robust export growth. Meanwhile, the domestic economy fared well with a rebound in government spending and sustained momentum in household consumption. On 30 September, citizens voted in favor of changing the official name of the country to the Republic of North Macedonia, however low voter turnout is calling into question the validity of the results. The final decision now lies with parliament, where a two-thirds majority vote is needed to amend the constitution. Prime Minister Zoran Zaev has put pressure on parliament to vote in favor of the proposal by threatening to call for early elections if lawmakers do not support it.
Macedonia Economic GrowthRobust domestic demand should drive a notable acceleration in 2019. Met the why particular panelists expect the economy to grow 2.4% in 2018 and 3.0% in 2019, which is down 0.2 percentage points from last month’s forecast.
Macedonia Economy Data
5 years of Macedonia economic forecasts for more than 30 economic indicators.
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