Yesterday, the international rating agency “Fitch” announced that it affirmed Macedonia’s crating at “BB”, with positive outlook. Their Report, as one of the key advantages of the Macedonian economy, highlights the long-time maintenance of low inflation, stable economic growth and financial stability. All this, stated in the Report, is supported by the continuous coherent conduct of macroeconomic and financial policy, and consistent with the policy of maintaining a stable exchange rate of the denar.
In the context of monetary policy, the Report places special emphasis on the monetary relaxation in 2018, provided by the favorable position of the balance of payments and the extremely favorable developments on the foreign exchange market. Moreover, the Report clearly suggests that these developments, and especially the growth of the inflows based on foreign investments, also reflect the increased confidence of investors.
Affirmative views about the positive impact of the improved confidence of investors are also evident in the banking sector conclusions. This section emphasizes the positive effects of the more stable political and economic environment, especially evident through the significant acceleration in the growth of deposits in banks. At the same time, in the document, “Fitch” underlines that the NBRM develops its macro-prudential instruments, thus increasing the resilience of the financial system.
The "Fitch" agency has been evaluating the credit rating of the Republic of Macedonia since 2005. Their latest Report, among other things, confirms not only the successful monetary policy, but also the NBRM's effort to maintain financial stability and develop the economy in the country.
All rights reserved © 2017
National Bank of the Republic of North Macedonia