The Macedonian denar is stable, and price movements are due to the rise in energy prices on world stock markets after the high decline last year, as well as temporary disruptions in supply chains caused by the pandemic. These are temporary changes, which would subside by the year, and heating up the inflation movements is not necessary, said Vice Governor of the National BankEmilijaNacevska at Wednesday’s press briefing.
“The reason for the faster growth of prices in the first nine months of this year of 2.8 percent, compared to the expectations for growth of 2.2 percent for the whole year, are on the supply side. This is primarily due to the higher growth of energy prices globally – the price of oil and gas, which comes after the high fall in prices last year and the disruption of global supply chains as a result of the pandemic. With the recovery of the global economic activity, there is a faster growth of the demand in relation to the supply and creation of bottlenecks in the supply which make price pressures”, Vice Governor Nacevska pointed out.
Nacevska stressed that the assessments of the International Monetary Fund, the European Central Bank and other international organizations that monitor these movements are that this situation is temporary, and the expectations are that it will be overcome during 2022.