Skopje, 13 May 2024 (MIA) – The National Bank is proceeding cautiously with its forecasts regarding foreign direct investments, anticipating a level equivalent to approximately 3.6 percent of the GDP for the current year. According to the latest projections, the foreign direct investments would reach about four percent in the medium term.

National Bank Governor Anita Angelovska-Bezhoska underscored Monday that while progress has been positive, it's crucial to stay cautious and assess the course of action for the upcoming period.

"Foreign direct investments saw a notable rebound following the significant downturn during the pandemic in 2020, where they dropped to around 1.3 percent of GDP. Particularly, in 2022 and 2023, they averaged 4.4 percent of GDP, indicating a substantial recovery. For this year, we are more moderate and cautious in our projections, and we do not fully incorporate these favorable achievements that were evident in the past two years. Our projection for this year stands at approximately 3.6 percent, with a trajectory suggesting that we would reach a level of around 4 percent in the medium term," stated Angelovska-Bezhoska responding to journalist questions following the presentation of the latest macroeconomic projections.

In terms of borrowing, the Governor is resolute that not only should it be justified, but it's best to be realized through sources that provide favorable concessional terms, such as international financial institutions. However, if there are other such sources, they should also be considered, she noted.

“In conditions where international financial markets remain tight, and interest rates are still high, it is crucial to borrow from sources that provide favorable concessional terms, and international financial institutions typically offer such terms. If there are other sources that could provide such conditions, they should be taken into account,” Angelovska-Bezhoska underlined.

Photo/video: MIA