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2018/11/14 / Erste Group Research

Macedonia Macro Outlook: Rebounding economy; political uncertainties still present

For 2018, we expect acceleration of economic activity above 2% y/y, supported by
strong net export performance, stable consumption profile and more supportive
fiscal stance. External stability is supported by low CA deficit, solid FDI inflows
and adequate FX reserves position. NBRM is expected to maintain its
accommodative stance, while fiscal metrics will be strongly determined by
economic performance.

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General information

AuthorErste Group Research
Product nameCEE Country Macro Outlook
Topic in focusFX, Macro/ Fixed income
Economy in focus-
Currency in focus-
Sector in focus-


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