Projections for the 2011 GDP growth remain at 3.5 percent, inflation will slow down and amount to 3.9 percent compared to the previously projected 4.5, whereas the current account deficit is seen at 4.8 percent of the GDP, said National Bank of the Republic of Macedonia (NBRM) Governor Dimitar Bogov at Thursday's press conference.

According to him, Macedonian economy will rise by three percent in 2012, inflation will drop to approximately two percent, while the current account deficit will remain at this year's level.

"The basic interest rate remains unchanged at four percent, taking into account expectations of a generally favorable ambiance for implementation of the monetary policy by the year-end, as well as 2012 expectations, although with enhanced negative risks due to the uncertainty over the eurozone debt crisis", stressed Bogov.

The Governor said the monetary policy would not be restrictive, the Denar remained stable, whereas the 2012 credit growth would be lower compared to this year, amounting to eight percent.