SKOPJE, May 22 (Xinhua) -- In the past seven years, Macedonian banking system was stable, with a stable rate of Macedonian Denar (MKD) accompanied by record low interest rate, outgoing Macedonian National Bank (NBRM) governor Dimitar Bogov declared on Tuesday.
Bogov handed over his post to the new elected NBRM governor Anita Angelovska-Bezoska.
"The average inflation rate in 2011-2017 period maintained the level of 1.5 percent, the MKD-EUR exchange rate was stable, despite a couple of strong shocks such as the Greek debt crisis and the domestic political crisis," stated Bogov during a press conference.
Bogov underlined that during the past seven years, the bank's total capital increased, along with a 50 percent rise in deposits and loans.
According to him, the capital return of banks is expected to reach 20 percent by year-end, marking the highest level in the Southeast Europe region.
Moreover, he added that in Macedonia the average growth in recent years stood at 2.2 percent, which is higher than the European Union average of 1.3 percent.
Angelovska-Bezoska thanked Bogov for his success in leading the bank during crucial times for Macedonia's economy.
"I am faced with the challenge of continuing the successful independent monetary policy towards achieving the central bank goals of price stability, which we believe is the best contribution it could give to a society, while implementing the strategy of stable MKD exchange rate," said Angelovska-Bezoska.
