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National Bank Governor: Moderate upward revision of inflation likely

National Bank Governor: Moderate upward revision of inflation likely
Skopje, 19 October 2021 (MIA) – National Bank Governor Anita Angelovska-Bezhoska has announced moderate upward revision of the projected inflation of 2.2%. Speaking to members of the media, Angelovska-Bezhoska said that given changes in food and energy prices, it is likely that inflation will undergo moderate upward revision in the coming macroeconomic projections. “We projected 2.2% inflation with the April cycle of projections, but given the latest developments involving inflation as well as projections, especially involving changes of food and energy prices, we’ll most likely make a moderate upward revision of inflation. It will take place as part of the new cycle of macroeconomic projections, which is being finalized,” she stated after an event dedicated to a project on increasing the use and availability of official statistical data in North Macedonia. Inflation is expected to remain moderate, which is also the IMF forecast, according to the central bank governor. Regarding denar stability, Angelovska-Bezhoska said that the strategy for maintaining a stable denar exchange rate is the optimal strategy. “The reason for it is the structure of the domestic economy,” she added. “To keep the strategy stable, the level of foreign currency reserves is key. The level of foreign currency reserves is maintained at solid high level,” Governor Angelovska-Bezhoska said.