The Directorate-General for Economic and Financial Affairs (DG ECFIN) of the European Commission said it forecasts 3.2% economic growth in Macedonia in 2017, down from its previous projection of 3.5% growth unveiled in October.Macedonia's economic growth is estimated at 2.1% in 2016, DG ECFIN said in its January 2017 EU Candidate & Potential Candidate Countries’ Economic Quarterly (CCEQ) Report.
"Political uncertainties had weighed on the economy in 2016 as private investment slowed down markedly," the directorate said.
Macedonia held early parliamentary elections on December 11 after a prolonged political crisis and is expected to form a government these days.
The EC economic affairs directorate expects Macedonia's consumer price inflation to slightly increase in 2017, to 0.9% from 0.1% forecast for 2016.
Private sector annual credit growth slowed down during the second half of the year, the directorate noted. Household loans continued to expand, but loans to companies dropped on annual basis every month since June.
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