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Economic activity to drop by 3.5% according to National Bank forecast

The National Bank has revised its economic growth forecast for 2020. New projections predict a 3.5% decline in economic activity in 2020 and a 4.7% growth in 2021, National Bank Governor Anita Angelovska-Bezhoska said at a press conference Tuesday.

Skopje, 5 May 2020 (MIA) – The National Bank has revised its economic growth forecast for 2020. New projections predict a 3.5% decline in economic activity in 2020 and a 4.7% growth in 2021, National Bank Governor Anita Angelovska-Bezhoska said at a press conference Tuesday.

She underlined forecasts for a drop of 4% in personal consumption, 10% in gross investments, 17% in export and 15% in import.

The National Banks also observed a revision of inflation to zero percent, compared to the previously projected 1.5%. According to the latest forecast, inflation in 2021 is set to reach 1.5%.

Projections have been revised due to the coronacrisis.

The National Bank makes regular macroeconomic projections twice a year, in April and October.

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