National Bank increases projected inflation

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According to the latest macroeconomic projections of Macedonia’s National Bank, the Macedonian economy will recover with a growth of 3.9% in 2021 and also in 2022. Moderate acceleration is expected in the medium-term. Inflation is projected at 3.1% after a moderate upward correction has been made compared to the April projection. Inflation is expected at 2.4% next year.

In addition to the energy crisis and price hikes worldwide, no shocks are expected so far. International financial institutions forecast that the energy sector will stabilize next year.

National Bank Governor Antia Angelovska-Bezhoska insisted that the situation is being closely followed and that the central banks has at a disposal an array of instruments to be used un case macroeconomic stability needs to be maintained.

“We’ve been closely following developments especially in the energy sector and those related to global rise in prices, but no shocks are expected yet. Inflation is expected to remain moderate,” Angelovska-Bezhoska stressed Tuesday at a news conference focused on the November projections.

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