World Bank changes projection for growth of Macedonian economy to 2.7 percent for 2022

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The World Bank forecasts Macedonia’s gross domestic product growth of 2.7 percent this year and 3.1 percent in 2023.

The World Bank, in its June report on the global economic outlook, reduced the previous economic projections for the country, by 1.0 percent in 2022, and by 0.3 percent in 2023.

Economic growth in 2024, according to WB projections, will reach 3.2 percent.

The forecast for global growth in 2022, on the other hand, has been reduced by almost a third, to 2.9 percent. The main reasons for this are the Russian attack on Ukraine and the damage caused by the Covid-19 pandemic, which have contributed to many countries now facing recession.

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