Macedonia Economic Outlook
February 5, 2019The economy appears to have ended 2018 on a solid note. Tourism remained strong in November, while industrial production growth quickened in December. On 25 January, the Greek parliament voted to ratify the Prespa Agreement, signaling Greece’s support for the formal name change to the Republic of North Macedonia—ratified by the Macedonian parliament in October—and the end to a nearly 30-year-long feud. This should be followed by Macedonia’s swift accession to NATO, with an accession protocol expected to be signed on 6 February. Moreover, the name change should lead to more concrete negotiations over EU membership and will likely renew investor confidence.
Macedonia Economic GrowthThe economy is seen picking up pace in 2019. More robust private consumption, thanks to an improving labor market, and a recovery in investment should drive growth. Nevertheless, a slowdown in the Eurozone could weigh on growth prospects. Met the why particular Consensus Forecast panelists expect GDP to expand 2.9% in 2019, which is down 0.1 percentage points from last month’s forecast, and to grow 3.1% in 2020.
Macedonia Economy Data
5 years of Macedonia economic forecasts for more than 30 economic indicators.
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|Exchange Rate||54.61||-0.56 %||Feb 14|
|Stock Market||0.1||0.0 %||Nov 26|
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