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World Bank downgrades 2022 growth projection for North Macedonia to 2.7 percent

World Bank downgrades 2022 growth projection for North Macedonia to 2.7 percent
Skopje, 8 June 2022 (MIA) – The World Bank is projecting a 2.7 percent Gross Domestic Product (GDP) growth for the Macedonian economy in 2022, followed by 3.1 percent in 2023. In its latest Global Economic Prospects report, the World Bank has downgraded the previous projections for North Macedonia by one percent for 2022 and 0.3 percent for 2023. Global growth projections are down by almost a third to 2.9 percent, primarily due to the Russian attack on Ukraine and the effects of the COVID-19 pandemic.