Russian-Ukrainian conflict to be felt through rise in domestic prices, warns Fitch

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The credit rating agency Fitch confirmed the credit rating of the country BB +. The report states that this assessment is supported by credible and consistent policies, supported by the long-term stability of the Denar exchange rate.

“The report states that the impact of the Russian-Ukrainian conflict will be felt by increasing the level of domestic prices under the influence of higher import prices of energy and food products as they make up over 50% of the consumer basket,” the National Bank of North Macedonia said.

“The National Bank started with a careful “normalization” of the loosened character of the monetary policy by increasing the key interest rate by 0.25 percentage points. In that way, it will be possible to stabilize the inflation expectations as well as to strengthen the preferences of the citizens towards the domestic currency”, informed the NBRM.

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