Tag: NBRM
Economy 26.11.22 | 15:49

Central Bank deregulates the financial services market

The Macedonian Central Bank (NBRM) adopted new regulations that will allow for more dynamic movements at the financial services market. This will allow smaller banks and operators with electronic currency to begin to give payment services – an area that was given exclusively to banks until now The...
Economy 11.05.22 | 13:10

Macedonian Central Bank increases interest rate again, to 1.75 percent

The Macedonian Central Bank (NBRM) announced another rate hike and set its base interest rate at 1.75 percent. This is the second 0.25 percent hike in two months. NBRM informed that they are driven by the need to respond to the latest inflation spike, which surpassed 10 percent in April. The Bank warns...
Economy 03.02.22 | 16:59

Central Bank warns about rising inflation

The Macedonian Central Bank (NBRM) warned about growing inflation risks. According to the Bank, inflation sped up in the fourth quarter of 2021 but it still hasn’t led to a decrease in consumption. The increased velocity of inflation in the fourth quarter of 2021 was the result of movements in...
Macedonia Economy 29.04.21 | 17:18

Interest rates down slightly in March

Interest rates dropped by a third of a percentage in March, the Central Bank announced. The average interest rate for newly approved loans was 3.94 percent, which is down by 0.31 percent. Overall rates for all loans were at average of 4.59 percent. Corporate loans were at 3.7 percent, which is the same...
Macedonia Economy 04.03.21 | 20:40

Macedonian Central Bank says its ban on payment of dividends by commercial banks will be in place until the end of the year

The Macedonian Central Bank (NBRM) assured commercial banks that its ban on payment of dividends will be temporary and will expire at the end of the year, if not sooner. The move, which also applies to insurance companies, shocked the financial sector and sent bank shares down , but is being justified...
Macedonia Economy 27.02.21 | 10:33

Stock market hit by Central Bank ban on payment of dividends by commercial banks

Shares of all major banks dipped in the Macedonian stock exchange yesterday after the Central Bank (NBRM) ordered them not to pay out dividends to their shareholders. The Central Bank explained this order, which also applies to insurance companies, with the need to preserve their liquidity in light of...
Macedonia Economy 07.12.20 | 17:56

Public debt expected to rise over 60 percent in 2021

Macedonia’s public debt is expected to surpass 60 percent in 2021. The debt level ends 2020 just south of 60 percent, and Central Bank Governor Anita Angelovska Bezoska today annouced that she expects it to grow by one or two percent next year. The deficit for 2020 is estimated to reach 8.5 percent...
Macedonia Economy 07.12.20 | 17:12

Remittances fell by a quarter in 2020

The Macedonian Central Bank (NBRM) estimates that remittances sent by Macedonian citizens living in the diaspora to their kin have dropped by about 26 percent in 2020. This is a major source of income for many families in Macedonia, as is the traditional stay in the old country by tens of thousands of...
Macedonia Economy 16.10.20 | 17:44

Central Bank proposes charges against managers of the bankrupt Eurostandard Bank

The NBRM Central Bank announced it is proposing prosecutors file criminal charges against former managers of the Eurostandard Bank. The bank went bankrupt earlier this year after years of mismanagement and approving bad loans. NBRM said that it can’t reveal any more details about the nature of...
Economy 16.08.20 | 14:49

Dimitrieska: SDSM destroys another bank that could’ve been saved

The Eurostandard Bank could’ve been saved, but its collapse serves the interests of powerful banking groups, said Gordana Dimitrieska Kocoska from VMRO-DPMNE. According to Dimitrieska, the bank owned by oligarch Trifun Kostovski asked to be put under administration, but was refused by the NBRM...
Economy 15.08.20 | 10:43

Central Bank denies allegations that it hid its decision on Eurostandard Bank to influence the elections and to give time to political insiders to withdraw their deposits

The Macedonian Central Bank (NBRM) responded after a leaked classified document shows it has stripped the troubled Eurostandard Bank of its licence as early as June 1, but kept the decision from the public. This prompted speculation that the move was hidden from the public in the sensitive pre-election...
Economy 14.08.20 | 13:58

Central Bank insists that the banking system is stable despite the collapse of Eurostandard Bank

The Central Bank (NBRM) said that the Macedonian banking system is stable, despite the collapse of the Eurostandard Bank. The NBRM Committee on financial stability met today to discuss the situation in the banking sector. NBRM revoked the licence of Eurostandard Bank on Wednesday, citing a long period...
Economy 13.05.20 | 15:35

After months of delay, Central Bank accepts another part of the VMRO-DPMNE economic proposals

VMRO-DPMNE President Hristijan Mickoski welcomed the move by the NBRM Central Bank to reduce its interest rate and to free additional liquidity for the economy, adding that it should’ve been done much sooner, when VMRO first proposed it. The bank controls about 400 million EUR in short term bonds,...
Economy 17.04.20 | 11:33

Governor Angelovska sees a quick recovery in 2021, assures the public that the denar is stable

Central Bank Governor Anita Angelovska – Bezoska said that the 176 million EUR loan approved by the IMF will help Macedonia come up with fundign from other sources as well. She forecasts a GDP drop in 2020, but a quick recovery and a growth rate of 5,7 percent in 2021. The pandemic shock will affect...
Economy 13.04.20 | 17:45

Central Bank partially accepts one of Mickoski’s proposals, will make additional 120 million EUR available to businesses

The NBRM Central Bank accepted a proposal from opposition leader Hristijan Mickoski and announced it will reduce its issue of short term bonds at the coming auction on April 15 by one third. Instead of issuing 400 million EUR in short term bonds, it will issue 278 million. NBRM said that it expects the...
Economy 08.04.20 | 15:30

Citizens urged to go to the banks only when necessary

The NBRM Central Bank called on the public to restrict visits to banks to when they are absolutely necessary, after long lines began developing each day. Due to the curfew, elderly citizens are restricted to attending to their bank business in just two hours, between 10h and 12h. Regarding other customers,...
Economy 06.04.20 | 13:40

Mickoski blasts the Government for using its emergency powers to redraw the currency, adding the adjective “North” before Macedonia

VMRO-DPMNE President Hristijan Mickoski blasted the move from the SDSM led Government to use its executive powers, given to it because of the state of emergency, to order that the imposed name “North Macedonia” is added on the currency. There are many dubious decisions made by the Government,...
Economy 28.03.20 | 10:13

Macedonian Central Bank calls on the public to ignore alternative denar rate reports

The Macedonian Central Bank (NBRM) said that online based currency exchange sites are not a relevant source of information about the value of the denar and insisted that it is protecting the peg to the euro. NBRM estimated the median denar rate at 61.69 to the euro but open exchanges yesterday had it...
Economy 11.03.20 | 12:59

Macedonian central bank sees growing risks from the spread of the coronavirus

The Macedonian Central Bank sees growing risks with the spread of the coronavirus crisis in the country and in Europe. According to the latest NBRM report, macro-economic indicators are within the bounds of the predictions, but international risks are growing. NBRM says that its forex reserves are kept...
Economy 23.09.19 | 11:39

Central Bank sees favorable economic indicators for 2019

The NBRM central bank of Macedonia sees the latest economic data as favorable, with a growth rate of 3.1 percent in the second quarter of 2019. NBRM informs that its foreign currency reserves are at stable levels and growing. The inflation rate was at 0.8 percent in August, down from an average of 1.1...
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