Thursday, 14 December 2017 | News today: 14

Citizens have EUR 3,61 billion in bank deposits

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Bank deposits in Macedonia are safe, banks are liquid and stable, while citizens who keep their money at home should deposit them and benefit from this, but also enable banks to allocate more funds where required, heard an event observing World Savings Day on Tuesday.

Citizens have MKD 222 billion (EUR 3,61 billion) in bank deposits, while companies EUR 1,3 billion (MKD 80 billion).

Central bank (NBRM) governor Dimitar Bogov stressed that savings post an annual six-percent growth, which is solid in the current circumstances.

He highlighted the trend of savings in Denars (MKD), expecting the trust in the domestic currency to rise.

Finance Minister Dragan Tevdovski said saving is the cheapest source of financing the national economy, encouraging banks to support domestic companies in their investment activities.

“Foreign capital is more expensive, less accessible and often unstable. It is good to see a six-percent rise following the end of the crisis, and I expect higher growth rates of deposits in the coming period”, said Tevdovski.

World Savings Day, established during the 1st International Savings Bank Congress in Milan back in 1924, has been observed in Macedonia since 1999.