World Bank downgrades Macedonian 2023 GDP growth to 2.4 percent

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The World Bank has new expectations that Macedonia’s gross domestic product (GDP) will increase by 2.4 percent in 2023.

That is 0.7 percentage points below the estimate the Bank made in June last year. In the global outlook report, Macedonia’s economy is estimated to grow by 2.1 percent in 2022. The expectations are that the economic growth of Macedonia will accelerate to 2.7 percent in 2024.

“There is considerable political uncertainty, with the risk that parliamentary impasses will cause a delay in the implementation of reforms and thus prevent the efficient absorption of the related funds (Bosnia and Herzegovina, Montenegro, North Macedonia)”, the international creditor institution claims.

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