I will justify the confidence, and those who have remarks will convince them that the National Bank was and will remain unavailable, said Slaveski
I promise to justify the confidence, and those who have some remarks will convince them of the sporting, that the National Bank was and will remain an independent institution, the newly elected Governor of the National Bank Trajko Slaveski said in today’s solemn statement.
Slaveski underlined that the Central Bank should focus on the three main goals, which are low and stable inflation, ie price stability, financial stabulism and support for government policies.
-Of course, legal responsibilities are defined, it is price stability that would mean low and stable inflation and financial stability for the Republic of Macedonia that will be supported by the Government’s ambitious policies because another goal of the National Bank is to support the government’s policies and that will be the fundamental priorities. I will focus along with my advisers the core of the functions or basic functions of the central bank that I listed. In the past, it was normally prompted by the outside of the World Bank and other central bank behaviors, the central banks to spread their responsibilities, the interests of certain issues that arise from a wider social interest such as green energy and the like I think it should be left to other institutions and the central bank.
He added that public expectations are that there will be a stable exchange rate, but that he as a professional economist is following the real exchange rate.
-The awareness of the public is that there will be a stable exchange rate, but here I want to say one thing the general public is focused on what is called the nominal exchange rate, which we expect to be fixed, but as a professional economist I follow the real exchange rate that depends on our domestic prices and prices. Unfortunately, in the past period, especially after 2022 we have a significant realistic rate of real exchange rate, which is due to high inflation in our country, which was higher than the eurozone on average. The real exchange rate of the denar from November 2002 to January of this year has been strengthened by 5.4 percent compared to all trading partners, and in terms of the euro the denar has an acknowledgment of nine percent – said Trajkovski.
Clarify that this means losing the competitiveness of the Macedonian economy.
-The Republic of Macedonia becomes more expensive for our trading partners that affects exports, here we have a tourist season in our tourist centers we have cancellations of arrangements with excuse from abroad agencies that the Republic of Macedonia has become a relatively expensive country. This means that inflation will need to keep the rate within the eurozone. The fact that we had a stable fixed exchange rate was due to one reason for the sole cause, our inflation rate was within the eurozone that tied the denar – he believes.
Asked if a flexible exchange rate would be introduced immediately after the stability of the denar exchange rate.
« If the value with low inflation within the eurozone is overvalued, those differences will be ironed out, » Trajkovski said.
Last night, Trajko Slaveski named the Governor of the National Bank of the Republic of Macedonia. For Slaveski, 68 lawmakers voted in favor and 16 were against.
During the general debate and a series of replicas and counter -arguments, lawmakers expressed different views, with lawmakers from the government focusing on his expertise and competence, while the opposition of Slaveski’s political affiliation and the vision of the institution’s independence.
