Skopje, 14th October 2021
Central bank independence and professionalism are of paramount importance for maintaining macroeconomic and financial stability. The National Bank Governor, Anita Angelovska Bezhoska and the US Ambassador Kate Marie Byrnes discussed the monetary authority contribution in responding to the COVID-19 crisis. It was pointed out that the measures taken by the National Bank have essentially contributed to stirring up economy and preserving financial stability in times of crisis.
The Governor announced the new cycle of macroeconomic forecasts, which will be presented in early November. She pointed out that in general, the current GDP is as forecasted by the National Bank. The foreign reserves are slightly better than expected, same as the credit support, and inflation is moderately higher. These movements mainly reflect the import pressures related to the global energy and food prices. However, the National Bank will continue to closely monitor price movements, especially inflation expectations and potential side effects, and will respond accordingly.
The Governor also noted that the ongoing gradual economic recovery positively contributes to maintaining macroeconomic and financial stability and mitigates systemic risks. However, the uncertain nature of the corona crisis requires constant preparedness and vigilant monitoring of the situation and appropriate measures to fight off challenges.
Christopher Zimmer, Chief of the Political and Economic Affairs Section, and Jordan Damcevski, Senior Economist in the US Embassy, also attended the meeting.
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