Macedonian economy will achieve the best result in the region. In recent years, many international financial institutions published their forecasts and all had similar conclusion: the national economy will deliver quite solid performances, writes Lider.
Official Brussels expects GDP growth of Macedonia to reach 3.8%, which is the best result in Europe! Behind us would be positioned Ireland and Malta with growth of 3.6%. Cyprus will have negative growth and with minimal growth Finland, Croatia, Greece and Italy. The average growth in the EU is projected at 1.8%.
Similar is prognosis from the European Bank for Reconstruction and Development. Macedonia will deliver the best results in the region. Growth this year would be 3.5% and 3.7% for next year. However, except that all relevant financial institutions predict solid economic performance, all of them warn for possible negative consequences of political instability.
What we put on cube?
New foreign investment and job creation, continuing the positive trend of decreasing unemployment, increased competition, increased investment in infrastructure – these are some of the factors associated with economic growth, and that the latest forecast of the National Bank will total 4 1%.
Leader analyzed the risk and where is Macedonia regarding the countries of the region.
Macedonia finished 2014 with economic growth of 3.8%. The government projected that this year GDP growth will reach 4%, thus: construction to achieve growth of 7.5%, industry 4.4%, gross – investment of 8%, exports 8.5% and imports 7.4% and inflation to remain low at 2%. Most importantly, all expect to continue the positive trend of decreasing unemployment, which dropped to 27.6%. Competent expected by 2018, the rate of unemployment to fall to 22%.
Where are we in the region?
Macedonia in terms of public debt is among the countries that are most favorable position. The country is still in the safe zone, far below the established European criteria of 60% of GDP. The EU average is 88%.
In terms of economic growth, Macedonia, despite the political crisis is expected to note the best result. Croatia in 2015 finally comes out of recession, which lasted six years and have noticed marginal growth of 0.5%, by the year 2017 would reach 1.5%. Nothing better growth is not expected even in Serbia, since the country has suffered serious damage from floods. Last year had decrease of 1.8%, and this year would be barely positive 0.3%. If intersection is done among the forecast of EU, EBRD, IMF, WB, the highest growth rates will deliver Macedonia, Montenegro and Kosovo.
We are poor standing with unemployment, but it must be noted that the positive trend continues, and according to the IMF, within two years the rate will be 25.7%. The region with unemployment of around 20%, are struggling Serbia, BiH is within 27%, Croatia with 18.4%. Greece is still above 25%.
“Doing Business” – Macedonia best in the region
Macedonia and the latest report of the World Bank is the leading reformer and best place to start new business. Our country is at 30th place, ahead of Montenegro (36), Bulgaria (38), Slovenia (51), Greece (61), Croatia (65), Albania (68), Kosovo (75), Serbia (91) and BiH (107).
-Macedonia has approached the best global practices as important progress in the ranking, because it affects the relative performance of other countries, stated the World Bank for our country.
