World Bank projections contradict Governments wishes that 2019 will be an economic year


       
Skopje, 11 January, 2019 - 15:33 (META) 

The World Bank in its latest report in January predicts growth in the domestic gross domestic product (GDP) in Macedonia at 2.9 percent in 2019, which is a sign that it will be difficult to achieve the government’s announcement that this year will be an ‘economic’ year.

The World Bank expects final data for 2018 to show that last year’s economic growth in the country was only 2.5%. The bank predicts for 2020, an increase of 3.2 percent.

The World Bank’s projections differ from those of the government’s, which expects last year’s calculations to show an increase of 2.8 percent and predicts the year-on-year rise to be 3.2 percent, and in 2020 as much as 4 percent.

According to the World Bank, the Macedonian economy will grow at a slower pace than the other economies in the region. The highest growth in the region this year will be in Kosovo at 4.5%. Albania is expected to grow by 3.6 percent, Serbia – 3.5 percent, and Bosnia and Herzegovina – 3.4 percent. Montenegro will also see an increase of fewer than 3 percent, as Macedonia, where the GDP growth is projected to be 2.8 percent in 2019.