Skopje, 23 January 2025 (MIA) – President Gordana Siljanovska Davkova met Thursday with the National Bank Governor Anita Angelovska-Bezhoska, who briefed her on economic situation and outlook based on the central bank’s macroeconomic projections.

As reported by Siljanovska Davkova’s Office, the meeting underscored that price and financial stability form the basis of a strong economy, enabling investments and businesses to progress. Without them, the economy is exposed to shocks that disrupt growth and diminish public trust in the financial system. It was stressed that through its policies and measures, the National Bank plays a crucial role in preserving stability and fostering sustainable economic growth.

Taking into account the crucial role of the National Bank in safeguarding these foundations, which are essential for creating a stable and predictable environment for businesses, investors, and households, President Siljanovska Davkova expressed her support for its commitment to maintaining sound monetary and financial policies, a resilient economy, and a prosperous future.

Recognizing the key role of the National Bank in protecting these foundations, which are essential for establishing a stable and predictable environment for businesses, investors, and households, President Siljanovska Davkova expressed her endorsement of its commitment to maintaining sound monetary and financial policies, building economic resilience, and securing a prosperous future.

At the meeting, the Governor stated that the average inflation rate in 2024 was 3.5%, consistent with the National Bank's projections. It is expected to decline to around 2.5% in 2025 and return to the historical average of 2% in the medium term.

“As for economic growth, moderate acceleration is expected, marking a recovery in economic activity. The economy will be supported by credit activity, further growth in the deposit base, and a stable banking system. However, due to the existing risks, it is vital to follow careful macroeconomic policies. In this direction, Governor Angelovska-Bezhoska stressed that the National Bank will persist in implementing well-thought-out policies that will ensure long-term macroeconomic stability and guarantee sustainable economic growth,” reads the press release.

They exchanged views on the potential impacts of global economic developments and geopolitics on the Macedonian economy, the reasons for the sensitivity to external shocks, the factors influencing the increase in foreign direct investment, as well as the necessary measures for fiscal consolidation.

“The discussion included the expectation that the EU’s Growth Plan for the Western Balkans will positively influence the economy and the implementation of the country’s Reform Agenda. The Governor briefed President Siljanovska Davkova on their efforts and dedication to the country’s rapid inclusion in the Single Euro Payments Area (SEPA) aiming to increase the efficiency of euro payments and continue developing and integrating into the common European market,” reads the press release.

Photo: President Gordana Siljanovska Davkova’s Office