ECONOMY

FYROM targets 4 pct growth

SKOPJE (SeeNews) – The Former Yugoslav Republic of Macedonia (FYROM)’s Finance Ministry said yesterday it is targeting economic growth of 4 percent and a budget deficit of 0.6 percent of gross domestic product (GDP) in the draft budget framework for 2006 agreed with the IMF. The government has projected economic growth at 3.8 percent and a budget deficit of 1 percent of GDP for the current year. «We agreed with International Monetary Fund on 0.6 percent budget deficit for 2006,» Finance Ministry spokeswoman Maja Bogdanovska told SeeNews. The 2006 GDP was projected at 4.705 billion euros ($5.508 billion), she said. Budget deficit was planned at 27.9 million euros, down from 44.3 million euros for 2005. Consumer price inflation is projected at 1 percent in 2006, the same as this year, Bogdanovska added.