Skopje, 26 July 2024 (MIA) - Governor Anita Angelovska-Bezhoska held a working meeting with the President of the European Bank for Reconstruction and Development, Odile Renaud-Basso, during which they highlighted the importance of the longstanding successful cooperation and partnership between the two institutions, according to a press release by the National Bank on Friday.  

According to the press release, several current issues were discussed, with the National Bank team presenting observations of the macroeconomic achievements, economic movements, inflationary and foreign exchange conditions and the conditions in the banking sector.

Governor Angelovska-Bezhoska assessed that inflation in the domestic economy has been significantly reduced, foreign reserves have increased and are on a solid level, while the country’s financial stability has been strengthened. According to her, the direction of the monetary policy in the coming period will depend on the dynamic of inflation and the slowdown of inflationary pressures on a longer basis, as well as on the conditions on the foreign exchange market.

“Trends in inflation are favorable, and the movements on the foreign exchange market are favorable as well, where since the beginning of the year we’ve intervened with a net purchase of foreign currency. The annual rate of inflation slowed down significantly in June, above all in the food and basic component, and has been reduced to 3.2%. For this year, according to the spring projections, the average annual rate of inflation would be 3.5 percent,” Governor Angelovska-Bezhoska said.

She assessed that the country’s economy is slowly recovering, while the banking system remains stable, well capitalized and can provide further assistance to the economy.

Photo: National Bank