The National Bank of the Republic of North Macedonia published remarks by Governor Trajko Slaveski setting out a more optimistic 2026 economic outlook and reaffirming the central bank’s policy priorities. He said economic growth is expected to accelerate, while the National Bank will continue to safeguard national currency and exchange-rate stability and pursue price stability through low, controlled inflation. The expected pickup in activity is linked to planned infrastructure investments, with additional support from private consumption. Slaveski cautioned that risks remain elevated and are closely tied to global geopolitical and economic developments, citing uncertainty around the war in Ukraine, sanctions, higher military budgets in European countries, and trade relations between the European Union and the United States, as well as Europe’s relationship with China. He also highlighted the European Union’s role as a key driver for the domestic economy, noting that conditions in EU member states materially affect growth and inflation in North Macedonia, and indicated the National Bank will continue to closely monitor international economic trends.
National Bank of the Republic of North Macedonia 2025-12-31
National Bank of the Republic of North Macedonia reiterates 2026 focus on currency, exchange rate and price stability as it forecasts faster growth
The National Bank of the Republic of North Macedonia, led by Governor Trajko Slaveski, outlined an optimistic 2026 economic outlook, emphasizing growth driven by infrastructure investments and private consumption. The central bank will focus on maintaining currency stability and controlling inflation. However, risks remain due to global geopolitical uncertainties, including the war in Ukraine and EU-China relations.