The National Bank is implementing policies that contribute to the maintenance of the country’s macroeconomic stability, which is of exceptional significance in a time when almost all economies across the globe face the energy crisis and price pressures due to the ongoing war in Ukraine, agreed National Bank Governor Anita Angelovska-Bezhoska and European Bank for Reconstruction and Development (EBRD) Vice-President Mark Bowman, writes news agency MIA.

Angelovska-Bezhoska and Bowman noted that the world is facing new challenges as a result of the disruptions in the supply chains and escalation of geopolitical tensions, which is set to lower growth projections of the global economy. Inflation projections in global terms have risen at the highest level in the last decade, and international financial institutions predict a gradual drop at the onset5 of 2023, the central bank said in a press release.

Angelovska-Bezhoska said the Macedonian small and exceptionally open economy is exposed to these global trends, with the growth and inflation projections to be corrected in the coming period, while adding that the monetary policy would continue to focus on maintaining price stability. Interlocutors highlighted that focus in the coming period should be put on resolving current challenges but also on green transition as part of the structural reforms.

EBRD has a big portfolio in North Macedonia, primarily in the energy sector, which is of great significance for the growth and sustainability of domestic energy sources, reads the press release.