The country’s macroeconomic stability has been maintained despite latest developments in Ukraine that significantly alter the global economic context, reports MIA.
The denar is stable and will remain stable, guaranteed by the various tools of the National Bank, primarily by the high level of foreign currency reserves, Governor Anita Angelovska-Bezhoska told European Bank for Reconstruction and Development (EBRD) country director Andi Aranitasi on Wednesday.
EBRD representatives saluted the National Bank policies, saying they correspond to the current situation of maintaining macroeconomic stability, the central bank said in a press release. Interlocutors discussed the post-pandemic macroeconomic environment and measures undertaken to overcome the negative effects.
They highlighted the bank’s support to the economic activity through monetary measures and prudent steps that have ensured solid credit support throughout this period, while maintaining the stability of the banking system. The crisis in Ukraine, adds the bank, alters the macroeconomic context in global and national terms.
It leads to downward risks for the economic growth while an upward one for inflation. In circumstances of high uncertainty, the National Bank is closely monitoring information and economic trends.
Angelovska-Bezhoska said that despite the good condition of the foreign currency reserves and the record-high bank liquidity, there are additional safeguards that guarantee macroeconomic stability, the latest being the extension of the National Bank’s access to the EUR 400 million repo line by the European Central Bank (ECB), reads the press release.
