Skopje, 22 November 2024

“The inflation expectations are favorable, while the pressures from global food and energy prices decreased, thus the National Bank expects further slowdown in the average inflation, reducing to 2.5%, and in the medium run to the historical average of 2%”.  This was pointed out by the Vice Governor Ana Mitreska in an interview for “Utrinski Brifing” on “Sloboden Pecat” TV. 

“Our latest inflation forecast for the next year is around 2.5% which is based on the assumptions for a moderate decline in oil prices next year, moderate growth in global food prices, following their last year’s decline, as well as certain domestic factors that we take into account”, said Mitreska. 

A positive sign is that the inflation expectations are favorable, i.e. consumers are hoping for the long-awaited price reduction.  The measures taken by the National Bank also played a significant role.  The Vice Governor Mitreska pointed out that risks arising from global developments, the wage increase, as well as the increase in the prices of services still exist.

“In the recent period of several consecutive crises, we have witnessed further positive and solid profit margins, with a moderate increase by individual year, which is probably one of the reasons why certain price categories have not yet been adjusted downward, even for some food prices”, said the Vice Governor Mitreska adding that the positive profit, besides being able to affect the price levels, it can also mitigate the wage growth, as well as the shocks we may face in the coming period.

The Vice Governor Mitreska said that the National Bank will continue its prudent monetary policy conduct by applying macro-prudential measures, which will further strengthen financial stability.

“During the crises, the National Bank managed not only to maintain, but also to further strengthen the resilience of the banking system, which has continuously provided credit support to the economy throughout this period.  The main parameter which determines the system’s stability is its capitalization, which currently equals 19% and is higher compared to the pre-pandemic level, as well as stable and solid liquidity and the high quality of the credit portfolio”, pointed out the Vice Governor Mitreska.