Skopje, 12 April 2023 (MIA) - Macedonian economy will record growth of 1.4 percent in 2023, rising to 3.6 percent in 2024, forecasts the International Monetary Fund (IMF) in the latest World Economic Outlook. 

Inflation in the country will slow down and stand at 9.2 percent. 

In the region, Kosovo and Montenegro will record the highest economic growth in 2023, with 3.5 percent and 3.2 percent, respectively. Greece's GDP will expand by 2.6 percent, Albania's by 2.2 percent, Serbia's by 2 percent, Bosnia and Herzegovina's by 2 percent, Croatia's by 1.7 percent, and Bulgaria's by 1.4 percent. 

Growth is expected to fall to 0.8 percent in the euro area, where German economy will record a fall of 0.1 percent. 

World Economic Outlook projections are picking up for the Asian economies. China's GDP will expand by 5.2 percent, India will record growth of 5.9 percent, while Vietnam, Indonesia and the Philippines will rise over 5 percent. 

Recession is neither forecasted for Japan (growth of 1.3 percent) nor in Russia, where the IMF projected 2.1 percent drop in economic activity in 2022, whereas in 2023 it forecasts 0.7 percent growth. 

Global inflation will fall, though more slowly than initially anticipated, from 8.7 percent last year to 7 percent this year and 4.9 percent in 2024, reads IMF's latest World Economic Outlook.