- Macedonia's Gross domestic product (GDP) declines
- FDI inflow falls 40%
- Macedonia places new 7-yr Eurobond
Macedonia's GDP declines 4.5% in 2020 - prelim data
Macedonia's economic output shrank by an estimated 4.5% year-on-year in real terms in 2020, the country's statistical office said on Tuesday, citing preliminary data.
Gross domestic product (GDP) totalled 664 billion denars ($13 billion/11 billion euro) at current prices in 2020, Makstat said in a statement.
Exports of goods and services fell by 10.9% in nominal terms in the year under review, while imports declined by 10.5%.
Household final consumption decreased by an estimated 5.6% last year.
In the last quarter of 2020 alone, Macedonia's GDP declined by an estimated 0.7% year-on-year.
In 2019, Macedonia recorded 3.6% economic growth.
The World Bank said in January it expects Macedonia's economy to expand by 3.6% in 2021.
FDI inflow into Macedonia falls 40% in 2020
Foreign direct investment (FDI) into Macedonia totalled 239.8 million euro ($288 million) last year, compared to a net inflow of 398.76 million euro in 2019, central bank data showed.
In the fourth quarter alone, FDI registered a net inflow of 95.3 million euro, as compared to an FDI inflow of 210 million euro in the like period of 2019, according to central bank data.
Intercompany lending made up the bulk of total direct investments into the country in 2020, as the net inflow of this component totalled 128.4 million euro.
Investments in equity came in at 96.7 million euro and reinvestment of earnings totalled 14.8 million euro last year.
Macedonia places 7-yr Eurobond worth 700 mln euro
Macedonia placed a seven-year Eurobond worth 700 million euro ($842.4 million) on March 3, the finance ministry said.
The Eurobond bears an interest rate of 1.625%, the lowest ever, the finance ministry said in a statement on Wednesday.
Demand was twice higher than the nominal amount of the issue.
Macedonia will use the raised funds to refinance an existing Eurobond issue maturing in 2021 and support budget expenditures, the finance ministry said.
SOURCE: seenews