Skopje, 18 December 2020

At today’s session, the National Bank Council adopted the Plan of Activities of the National Bank for 2021, which incorporates program activities that contribute to the achievement of the strategic objectives of the Strategic Plan for the period 2020-2022.

The Plan of Activities of the National Bank for 2021 provides for program activities that enable further improvement of the entire analytical infrastructure of the decision-making process and for an active approach to respond to the challenges in the domestic economy. Hence, it also provides for several analytical and research activities, which are significant support when making decisions related to the monetary policy, the maintenance of the financial stability and the supervision of the banking system.

Recognizing the significance of financial education and financial inclusion for greater use of the advantages of financial services, but also for appropriate risk management, the Plan of Activities of the National Bank for 2021 also provides for several projects in this area. In this context, the National Bank will actively work on the development of a Strategy for application of the new financial technologies, and will also continue with the activities for completion of the Strategy for financial education and financial inclusion and for commencement with its implementation. Besides the regular activities, the Plan of Activities of the National Bank provides for more important projects that will increase the financial education of the population for the purpose of a better understanding and use of the various financial instruments, raise the awareness about the financial system.

The adoption of the new Law on Payment Services and Payment Systems will start the implementation of projects for amendments or adoption of relevant bylaws in the field of payment services and payment systems. The new legal framework in the payment area, which will be significantly harmonized with that of the European Union, is expected to increase competition and innovation by opening the market for new payment service providers and payment system operators, and especially for those from the fintech-sector, to further increase the transparency in the provision of payment services and to strengthen the protection of consumers.

The National Bank in the Plan of Activities for 2021 also provides for project activities in the segment of improvement of the process of compilation and dissemination of statistical data. The reliable and high-quality statistical data are key when making economic decisions, due to which several projects that expand the portfolio of available statistical data are envisaged. At the same time, the National Bank will continue with the activities for simplification of the process of collecting statistical data and forming possibilities for building data warehouse which will improve the efficiency in their use. The envisaged projects in the field of statistics provide further approximation to the highest international statistical standards.

Also for 2021, the National Bank provides for organization of events that will enable exchange of experiences and discussions on topics that concern central-banking operations. For that purpose, the National Bank provides for continuation with the regular organization of the annual research conference, as a platform where the researchers from the central banks and the academic community hold a discussion based on researches and advices that are relevant to central-banking operations and to policymakers in the region. Also, the National Bank provides for organization of the 13th annual conference on payments and market infrastructure, in order to strengthen the capacities of payment service providers and payment system operators through information on the novelties in the field of payment services at global and European level.

Some of the activities of the National Bank next year will also be aimed at further improvement of transparency, social responsibility and corporate governance.

The National Bank Council also discussed the Report on the participation, the recommendations and the activities of the National Bank in the euro-integration processes in the period September 2019 - October 2020, as a complete time cycle in the euro-integration processes. The Report gives a review of the involvement and contribution of the National Bank in all processes and national strategic documents for integration into the EU, by undertaking activities in terms of the compliance of its operations with the European standards, within the areas they cover.

The Council has also discussed other matters within its jurisdiction.