The European Bank for Reconstruction and Development (EBRD) says Macedonian economy will rise by 3.5 percent this year and by 3.7 percent in 2016, the largest growth in the region.
“In the Western Balkans, the Macedonian economy is continuing to grow at the fastest rate in the region. GDP is expected to expand by 3.5 per cent this year and by another 3.7 per cent in 2016. Downside risks mainly stem from internal political disputes”, reads the EBRD Regional Economic Prospects report.
In regional terms, Albania’s economy is set to rise by 2.5 percent this year and 3 percent in 2016, the same as Bosnia-Herzegovina. Montenegro is expected to see a pick-up in 2015 to around 3 per cent and to 3.7 per cent next year. EBRD has revised down the Kosovo forecast for 2015 to 2.5 per cent, from 3.5 per cent in January. Expansion of 3.5 per cent is seen for 2016. Serbia is likely to see a modest recovery of 0.3 per cent in 2015, with expansion of just below 2 percent expected in 2016.
The EBRD’s latest Regional Economic Prospects report predicts overall stagnation in 2015 across all 35 countries covered and meagre expansion of just 1.4 per cent in 2016. But this outlook masks stark regional differences.
“This is a very diverse picture,” said acting Chief Economist Hans Peter Lankes. “There is definitely scope for optimism especially in countries closely tied to the eurozone. But the Russian recession is cause for concern in many other economies
