3rd July 2024, Skopje – Mutual cooperation and coordinated approach in implementing fiscal and monetary policy is the solution for providing macroeconomic and financial stability. This was the drawn conclusion of today’s meeting between Minister of Finance, Gordana Dimitrieska-Kochoska and Governor of the National Bank, Anita Angelovska-Bezhoska.

At the meeting, Minister underlined the Ministry’s intention to pursue fiscal policy aimed at restoring macroeconomic stability, while also supporting the economic activity via gradual fiscal consolidation and improvement of public finance management, as well as maintenance of high level of capital expenditures. “More to the point, a fiscal policy which will be in service of economic growth, amidst moderate and sustainable deficit and public debt level”, she pointed out.

Good coordination of the monetary and fiscal policy alongside moderately budget deficit’s maintenance and foreign exchange rate stability are expected to contribute to bringing down inflation, which is to range between 2% and 2.5% over the course of 2025-2028.

Moreover, Minister indicated that the Government would respect National Bank’s independence in the expectation of the Central Bank’s timely measures and activities leading to the maintenance of low inflation, stability of the exchange rate, while also tending to an efficient and stable financial system.

Governor, Angelovska-Bezhoska extended her congratulations to Minister, Dimitrieska-Kochoska on her appointment to office, thereby highlighting the commitment to coordinating the monetary and the fiscal policy, all to the end of preserving macroeconomic stability.

“Efficient interaction between monetary and fiscal policy is of vital importance in overcoming the economic challenges of the modern era and encouraging sustainable growth. Against a background of global uncertainty, coordination among these policies is crucial for permanently stabilizing the inflation, supporting the investments and boosting employment. By having such coordinated approach, economic resilience is to be strengthened, while the stability of the constantly changing surroundings is to be addressed as a primary concern”, the Governor Angelovska-Bezhoska underscored.

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