Skopje, 28 January 2021 

“By publishing financial accounts statistics, the National Bank has fulfilled the obligation taken at the accession of our country to the highest IMF’s special data dissemination standard - SDDS Plus, which has been adhered to by only about twenty countries in the world. Financial account statistics is in the spotlight particularly after the Global Financial Crisis, as a source of data on the vulnerability of economic sectors and the potential shock transmission channels“, said Governor Anita Angelovska Bezhoska in her introductory address at the National Bank’s e-workshop for journalists dedicated to statistical data on annual financial accounts of the Macedonian economy.

The workshop was part of the series of e-workshops for journalists hosted by the National Bank. The financial accounts statistics is particularly important and one of the most complex statistics. This statistics provides detailed information on the stock and flow of financial assets and liabilities of individual sectors in the economy, their structure by financial instrument, as well as mutual financial exposure of sectors. Thus, they may have a great practical value in investigative journalism in the field of economics.

Within the presentation at the workshop, the Manager of the National Bank Statistics Department, Sultanija Bojceva Terzijan, besides referring to the importance of financial accounts, methodology, principles and scope of these statistics also presented a data analysis of the time series from 2013 to 2019.

“Financial accounts are an important analytical tool for understanding financial behavior of each sector as a debtor or creditor, financial relations in the national economy, structure and role of the financial system and the main channels for acquiring and investing financial assets in the national economy. Hence, financial accounts are an important source of information for the economic policy makers”, pointed out Bojceva Terzijan.

As noted at the workshop, National Bank’s preparation of annual financial sector accounts is a basis for additional indicators within the highest IMF special data dissemination standard - SDDS Plus, as well as for the set of indicators of the EU Macroeconomic Imbalances Procedure. Data and methodological explanations are available on the National Bank website. Moreover, activities for compilation of annual financial accounts - flows and quarterly financial accounts – stocks and flows, are underway.

The serial of e-workshop for journalists, hosted by the National Bank, started in July last year. The e-workshops discuss current topics and consider various issues relevant for accurate, complete and timely informing of the public on the data and information arising from the central banking operations in the country. This year, at least one workshop per quarter is planned to be held. With these activities, the National Bank reaffirms its commitment to enhancing transparency and improving public relations.