As part of this year’s European Union dialogue with the Western Balkans and Turkey, the focus was on the challenges posed by the pandemic and the Russian invasion of Ukraine, as two consecutive external shocks. Measures taken so far by policy makers to deal with crises and increase the resilience of economies were also assessed.
“The monetary policy of the National Bank is appropriate and contributes to maintaining the overall stability. The banking sector remains stable and sound, providing credit support during the recovery of the economy from the pandemic shock. One of the main challenges for the central bank is the growth of inflation, which is mainly due to global factors on the supply side,” the NBRM said.