wiiw Forecast Reports
NORTH MACEDONIA: Same Old Story
publication_icon
in: Beneath the Veneer of Calm
wiiw Forecast Report No. Autumn 2023, October 2023 , pp. 104-107
As expected, the economy slowed in Q2, owing to high inflation, restrictive monetary policy and limited foreign direct investment. Driven by company profits, inflation remained very high: the government has reinstated price controls on food products in an effort to tame it (though we do not believe the effects will last long). The GDP forecast for 2023 has been kept unchanged at 1.6%, but our forecast for 2024 has been revised downward to 2%, on account of the cloudier outlook for the EU economy.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: North Macedonia