National Bank Governor urges politicians to support economies and avoid turbulence

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In the coming period, the main challenges for policy makers will be twofold. On the one hand, support will still need to be provided to economies in recovery from the crisis, but well-targeted and of adequate scope. The global economic crisis of 2008/09 showed that policy makers should not suddenly stop with measures to support economies in coping with the shock, and this time it is emphasized because of the primary, health nature of the crisis. But, on the other hand, there must be caution in determining the characteristics of the macroeconomic stimulus, so as not to cause imbalances, said National Bank Governor Anita Angelovska-Bezhoska in her speech yesterday at the Balkan Business Week, organized by the Institute for Business and Management Heidelberg and the Academy of Banking and Information Technology (ABIT).

“The focus should again be on structural reforms and transformation policies to address the deep pre-crisis structural bottlenecks, as well as the new structural obstacles that will remain as a legacy of the pandemic, which are not fully clarified globally at this time. We need to move towards the transformation of traditional economies into smarter, inclusive and greener economies,” said Angelovska-Bezhoska.

In her speech, she addressed several key issues for the challenges faced by policy makers in the economies since the outbreak of the coronacrisis, as well as the challenges that are expected, especially referring to the Macedonian economy.

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