Page 12 - Ekonomija i Biznis_oktomvri 2016.indd

FLASH MACEDONIA

NBRM: LOWER GDP AND INFLATION THAN THE
PROJECTED

The economic activity in the second quarter WORLD BANK REDUCED
continues to increase, however with a THE PROJECTON
similar pace, same as in the first quarter.
In regard to the projections, the growth ABOUT MACEDONIA’S
in the second quarter is lower than the ECONOMIC ACTIVITY IN
expected due to the lower growth of gross-
investments compared to the projected 2016
growth. The published data about the GDP
in the first half of this year are lower than The World Bank presented its latest
the expectations from the April projections, Report on the economic movements
which indicates a potential downward deviation of the projected economic in Southeast Europe. Growth in
growth for the entire 2016. In regard to inflation, in the first eight months of this Macedonia is expected to decelerate
year it remains in the negative zone with lower prices of food and energy. On the and to reach a level of 2 percent
other hand, the basic inflation experienced positive growth rates. The inflation in 2016, under the impact of the
realizations so far indicate lower inflation than the projected one, and the risks reduced investments, however later
for the projection are further related to the variability of the expectations for the on it would gradually heal and it will
changes of the world prices of energy and food. The national bank purchased reach 3.3 percent in 2017, that is, 3.7
foreign currencies in August and at the beginning of September in an amount percent in 2018. The World Bank
of 68.8 million Euros whereby more than half of the funds sold in the period of indicates that the main cause of the
the speculative attack on the exchange rate this year have been compensated. reduced growth of the Macedonian
economy is the political instability
NEW PUBLIC CALL FOR BIDS FOR CONSTRUCTION which discourages the domestic
OF GAS DISTRIBUTION NETWORK private investments. In the report
it is also concluded that the fiscal
According to the Decision of the deficit has increased from the initially
Government, construction of gas budgeted 3.2 percent of the GDP to 4.1
distribution network is stipulated in the percent due to the increased spending
three regions: Skopje, West and East, that on salaries, pensions and social
is, on the entire territory of Macedonia by transfers than the initially budgeted,
means of public-private partnership. The as well as due to adjustment of the
Prime Minister’s counselor for energetics, consumption related to coping with
Hristijan Mickovski, says that the Decision floods. With 2 percent growth of the
stipulates an increase of the concession real GDP, Macedonia is positioned
from 20 to 30 years, and reduction of the last between the countries from the
price of the connection for the citizens region where Kosovo is first with 3.6
from 100 to 80 Euros. The other funds will be subsidized from the Government. percent, followed by Montenegro and
The spokesman of the Government, Aleksandar Gjorgjiev pointed out that in the Albania with a growth of 3.2 percent.
past period the Government was focused on the construction of highways and A growth of 2.8 percent is projected
pointed out that the pipeline Stip-Klecovce has been completed, recently the for Bosnia and Herzegovina, and a
construction of the highway line Klecovce-Negotino started, and soon the lines growth of 2.5 percent is projected for
Negotino-Bitola, as well as Skopje-Gostivar through Tetovo will be constructed. Serbia.
In the second and third stage of construction, the pace and intensity of work
will increase. The opposition SDSM accused the Government for corruptive
intentions with the new call for bids and announced its revision.

Miroslav Sazdovski

12 October 2016