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NBRM: Economic activity rising at good rate.

The economic activity is rising at a good rate, partly backed by the credit activity of domestic banks, while the economy is recovering without any price and external sector pressures, said the National Bank of the Republic of Macedonia. The NBRM statement says that the current course of the monetary policy is suitable and that it has been decided that treasury bills of 25,500 million denars should be auctioned at a fixed interest rate of 3.25 percent.

"The foreign exchange reserves are still maintained at an appropriate level, which is enough for dealing with any unforeseen future shocks. The risks for the home economy connected with the domestic political developments and the economic and political situation in Greece have recently tapered off and their effects are still assessed as restricted. However, although reduced, uncertainty in the region is still present," the press release from the NBRM says.

According to the statistics for the third quarter of 2015, the foreign exchange reserves have noted a decline as a result of the authorities' regular settlement of foreign liabilities and partly as a result of the net sale of foreign currency in the foreign exchange market by the NBRM.

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Title Annotation:BUSINESS NEWS
Publication:INFOMAC Daily News Service
Date:Aug 13, 2015
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