I believe that having in mind the perspectives of the Macedonian economy, which NBRM also agreed will improve next year, Central Bank will have the possibility and the stimulus to be soon ready and more determined for an additional and larger reduction of the interest rate – Stavreski said.
 
According to him, the focus should not only be put on the half percent lowering of the reference interest rate.
 
– I believe more significant reduction of reference interest rate of the Central Bank will follow in future, but it is also important for the other conditions referring to the reserve requirements and the other segments to be loosened. Therefore, the Macedonian economy should also contribute by showing signs of recovery, already started to be felt. I believe that in 2010, we will succeed together in realizing higher growth rates of credits and lower interest rates, Stavreski pointed out after the meeting with the pensioners, members of the Association “Dostoinstvo”.
 
Government, as the Minister added, with its fiscal policy, will contribute to providing stable macroeconomic conditions and continuing the upward trend of foreign currency reserves amounting already to EUR 1.580 billion or by around EUR 80 million higher than in the period before the crisis.
 
– All this, in coordination between monetary and fiscal policy, will contribute to higher growth of credits in future and greater availability of credit funds, i.e. their lower cost, Stavreski said. He believes that we should wait and see whether the banks will reduce their interest rates, following yesterday’s measure introduced by the National Bank.
 
– Let’s wait and see how things will evolve. The banks will gradually see the cost at which they might raise their own funds from abroad and the cost at which they raise the funds. They will follow the signals of monetary and fiscal policy and I believe we will find common ground for the benefit of the Macedonian economy- Stavreski pointed out.(MIA)
