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Bogov: denar is stable and will not depreciate.

The denar is not going to depreciate and the monetary policy is going to continue defending the stability of its rate of exchange against the euro, said National Bank Governor Dimitar Bogov at the debate marking the 21st anniversary of the introduction of the national currency.

According to Governor Bogov, through the stability of the denar rate of exchange, the monetary authorities are also keeping price stability and, in order to help the private sector, the National Bank introduced unconventional measures last year whose effects are yet to be felt.

Exporting companies have long been arguing for a more flexible denar rate of exchange considering that in this way the competitiveness of the home production would be backed. Experts, however, say conditions need to be created first.

According to the latest reports from the National Bank of Macedonia, the first quarter of this year closed with credit and deposit growth rates that were smaller than the projected ones.
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Title Annotation:BUSINESS NEWS
Publication:INFOMAC Daily News Service
Date:Apr 29, 2013
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