Skopje, 10 March 2022 

The National Bank conducts an accommodative monetary policy, striving to mitigate the effects of the health crisis on the economy. Recently, we are facing new macroeconomic conditions with skyrocketing energy and food prices, additionally fueled with the current security crisis. In such circumstances, the National Bank closely monitors the movements and makes analyzes which will be used to design measures aimed at balancing the effects of the rising prices, while providing support for the economy. The Macedonian banking system has the capacity to deal with any shocks, while providing solid credit support for the real sector. This was pointed out at the meeting between Governor Anita Angelovska Bezhoska and Linda Van Gelder, World Bank’s Country Director for Western Balkans, Europe and Central Asia, which was also attended by Massimiliano Paolucci, Country Manager for North Macedonia and Kosovo.

Governor Angelovska Bezhoska pointed out that the factors that contribute to rising prices in the domestic economy are being closely monitored. At the same time, the current situation in Ukraine has significantly increased the uncertainty and volatility of movements in international financial markets. Regarding the monetary policy stance, the governor pointed out that the National Bank's attention is focused on maintaining an appropriate balance of the monetary policy stance that will support the economy, while maintaining price stability and the stability of the domestic currency.

Director Van Gelder stated that there is a significant macroeconomic shock at the global level, which will have consequences for the global economy. This will have an impact on the Macedonian economy, and according to Van Gelder, it is necessary to design appropriate policies that will provide support for the economy. At the same time, it is necessary to continue with the implementation of policies to enable appropriate structural changes in the domestic economy.

The World Bank has been present in our country for many years with projects that provide significant support to the economic growth and development of the country, and it is expected that it will continue to actively support projects that enable achieving economic prosperity.