The economies of the countries of Southeast Europe are going to grow at a much lower rate than the projected one this year because of the effects of the aggravated situation in the eurozone, said the European Bank for Reconstruction and Development. According to the latest report of the EBRD, the latest projection of the Macedonian economic growth has been set at 0.3 percent this year and 2 percent next year, and is the highest growth rate projection in the region.

The EBRD says that in 2011 Macedonia was shielded from the eurozone crisis primarily thanks to its prudent fiscal policy in coordination with the monetary policy. However, this year, the impact of the external factors is stronger as a result of which the economic growth has slowed down, mostly as a result of the reduced export being a consequence of the crippled demand, and reduced foreign investments and foreign remittances. It is for this reason that a minimum growth rate of 0.3 percent has been projected, the EBRD says in the section of the report focusing on Macedonia.

The Macedonian growth rate of 2 percent that the EBRD has projected for 2013 will be the highest among the countries of Southeast Europe, except Turkey whose growth rate has been projected at 3.7 percent.