National Bank setup, powers and organization

The National Bank of the Republic of North Macedonia is a central bank established by the Constitution of the Republic of North Macedonia outside the organization of the state government as an independent institution, responsible for the stability of the currency, the monetary policy and the general liquidity of payments. The National Bank organization and operations are governed by the Law on the National Bank.

Pursuant to the legislation, the National Bank enjoys administrative, financial and management independence and is independent in achieving its goals and tasks, and reports to the Assembly of the Republic of North Macedonia, for its operations.

The main goal of the National Bank is to achieve and maintain price stability. Another goal of the National Bank, subordinated to the primary goal, is to contribute to achieving and maintaining financial stability. As an additional goal, the National Bank supports the general economic policy without jeopardizing the achievement of the primary goal, and in accordance with the principle of an open market economy with free competition.