EU assesses that the monetary policy response is adequate and the banking sector is stable

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Inflationary pressures in the Macedonian economy are mainly driven by the prices of primary products with a high share of food and energy in the consumption basket. In conditions of increased uncertainty, due to external shocks, certain pressures on currency preferences were also observed. The National Bank gave an appropriate response to the growth of inflation and the higher propensity for foreign currency, by tightening the monetary policy accordingly.
This is indicated in the conclusions of this year’s economic and financial dialogue of the European Union with the countries of the Western Balkans and Turkey, which aims to prepare the countries for the future participation in the coordination of the economic policies of the EU (European Semester).
In the conclusions, as the National Bank informs, it is stressed that despite the pandemic and the energy crisis, the banking sector remains stable, i.e. highly capitalized and liquid, with a low share of non-performing placements.

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