The International Monetary Fund (IMF) has raised Macedonia’s economic growth forecast for 2026 to 3.5%, up from its previous estimate of 3.1%. The revised outlook was released on Tuesday, October 13.
The new forecast representIMF Raises Macedonia’s 2026 Economic Growth Forecast to 3.5%
s an increase of 0.4 percentage points compared with the IMF’s April projection.
The revision comes as international financial institutions reassess economic conditions across the Western Balkans.
IMF Expects Macedonia’s Economy to Grow in 2027
According to the IMF’s latest World Economic Outlook, Macedonia’s economy is expected to expand by 3.2% in 2027.
The updated projection follows earlier concerns about rising energy prices and their impact on economic activity.
In April, the IMF warned that higher energy costs could slow growth and increase inflation.
The organization also identified external economic uncertainty and public spending pressures as potential risks.
The latest forecast signals improved expectations for economic growth, although it does not eliminate those risks.
World Bank and EBRD Also Raise Growth Forecasts
Other international financial institutions have recently revised their economic projections for Macedonia.
On October 6, the World Bank increased its 2026 growth forecast to 3.2%, compared with its previous estimate of 2.9%.
The European Bank for Reconstruction and Development (EBRD) also raised its forecast in September, projecting economic growth of 3.3% this year.
Infrastructure investment has been identified as one factor supporting economic activity.
Deputy Prime Minister and Transport Minister Aleksandar Nikoloski welcomed the IMF’s revised forecast on Tuesday.
Speaking on Alfa TV, he pointed to construction activity as an important contributor to economic growth.
Nikoloski said the construction sector had recorded double-digit growth for six consecutive quarters.
The IMF’s latest projection remains a forecast rather than a final measurement of economic performance.
The actual growth rate will depend on developments during the remaining months of 2026.
