Skopje, 29 July 2024 (MIA) – Joining the Single Euro Payments Area (SEPA) is a key priority for the European Union in accelerating the integration of Western Balkan countries, as stated by the National Bank Governor Anita Angelovska-Bezhoska during her meeting with the EU Ambassador to the country, David Geer.

As reported Monday by the National Bank, Ambassador Geer commended the National Bank's efforts in applying for SEPA membership, which is one of seven priorities for enhancing economic integration under the European Commission's Growth Plan and faster integration of the Western Balkans.

“Submitting the application for joining the Single Euro Payments Area (SEPA) is a historically significant step that will provide us access to the European payment system and allow us to benefit from it even before the country becomes an EU member,” Angelovska-Bezhoska and Geer noted.

Governor Angelovska-Bezhoska underscored that the benefits for citizens and companies will be significant, providing a cheaper, faster, safer, simpler and more efficient method (equivalent to national payments) for cashless euro payments with SEPA member countries. She highlighted that the country is anticipating a positive decision from the European Payments Council, after which domestic payment service providers would be effectively integrated into the SEPA payment systems.

Discussions at the meeting included a range of current topics, such as macroeconomic performance, economic trends, inflation and currency conditions, and the conditions within the banking sector.

Photo: National Bank