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NBRM expects favorable monetary policy climate to remain in 2011

26. December 2010. | 09:24

Source: MIA

The National Bank of the Republic of Macedonia (NRBM) expects for the favorable monetary policy conditions to be also present in the next year.

The National Bank of the Republic of Macedonia (NRBM) expects for the favorable monetary policy conditions to be also present in the next year.

"Next year we expect an acceleration of the economic growth, which should reach about three percent. Risks are still present, but as always they are going to be monitored and dealt with on time," NBRM Governor Petar Gosev told reporters on Thursday.

In a post-crisis period and continuous, substantial monetary relaxation, the future more serious positive economic impulses should present themselves in a combination of internal and external factors, namely larger inflow of investments, better allocation of the funds and higher productivity, which requires structural reforms, industrial policy and appropriate policies of the most important sectors, Gosev said.

The world is still burdened by uncertainty, Gosev said, pointing out that the sovereign debt of some European countries present a potential treat for a new financial downturn, which puts at risk the realization of scenarios for modest recovery of the European economy in 2011, the Governor said.

He expects for Macedonia's foreign currency reserves to be higher for EUR 180 million in the next year, and for banks to record a credit growth of 12%.

The banking sector will also work on advancing the banks' performance and further harmonization of national regulations with the existing and new standards in this sphere, Gosev said.


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27. December - 02. January 2011.