The European Commission projects in its Autumn 2021 Economic Forecast, that Macedonian economy growth will be 4% in 2021 and 3.9% in 2022.
“North Macedonia’s economic recovery is making good progress, as both, domestic and foreign demand are strengthening. The upswing is expected to gradually solidify in 2022 and 2023, based on a further firming of private consumption and foreign demand,” according to the European Commission 2021 Economic Forecast report.
“Real GDP growth is projected to average 3.9% in the period 2021 to 2023. The recovery in public finances is likely to be more protracted than anticipated earlier. Financing needs for the government’s ambitious new public investment plans, and continued implementation of anti-crisis measures are likely to entail sustained high fiscal deficit levels,” the Commission said in the Report.