Skopje, 8 June 2021
In the forthcoming period, the main challenges for policy makers will be twofold. On the one hand, one will have to continue to provide support to the economies in the recovery from the crisis, but well aimed and with adequate scope. The global economic crisis from 2008/09 showed that policy makers should not all of a sudden stop with the measures for support of the economies in dealing with the shock, and this time it is emphasized also due to the primary, health character of the crisis. However, on the other hand, one will have to be prudent in determining the characteristics of the macroeconomic stimulus, not to cause imbalances.
This, among other things, was emphasized by the Governor of the National Bank, Anita Angelovska Bezhoska, in her speech yesterday at the Balkan Business Week, organized by the Institute for Business and Management "Heidelberg" and the Academy of Banking and Information Technology (ABIT).
“The attention should again be directed toward structural reforms and transformation policies for resolving of the deep pre-crisis structural bottlenecks, as well as of the new structural obstacles that will remain as a legacy from the pandemic, which are not fully clarified globally at the moment. One should move towards transformation of traditional economies into smarter, inclusive and greener economies." - Angelovska Bezhoska said.
In her speech, she referred to several key issues for the challenges faced by policy makers in the economies from the outbreak of the corona-crisis onwards, as well as for the challenges that are expected, separately referring to the Macedonian economy.
"When written in Chinese, the word “crisis” is composed of two characters. One represents a danger, while the other represents a possibility. I hope that we have left the danger behind us and now we will use the possibilities to improve the well-being of our economies.” - said the Governor at the end of her speech.
The event was attended by senior representatives of several central banks of the region.