The central bank has changed the required reserve ratios for local and foreign currency bank liabilities, a release on the institution’s website informs. The reserve requirement for domestic currency liabilities was cut to 8% from 10%. The ratio for foreign currency liabilities was raised to 15% from 13%. The measure is expected to support the growth of local currency savings and restructure the currency composition of the banking system’s liabilities.
The total banking assets in Macedonia increased by 5.9% y/y to MKD 355.7bn (EUR 5.8bn) at end-March, down from 6.6% at end-2012. The total asset stock was equal to 72.4% of the projected GDP.
The stock of deposits included in broad money increased by 3.3% y/y to MKD 243.3bn (EUR 3.95bn) at end-May. Local currency deposits rose by 9.3% y/y to MKD 135.5bn, while foreign currency deposits dropped by 3.4% y/y to MKD 107.8bn.
The International Monetary Fund (IMF) said on September 18 it expects the Macedonian economy to slow down to moderate growth of 1.9% in 2017 due to the prolonged political uncertainty. The fund ... more
Standard and Poor’s (S&P) rating agency has affirmed its long- and short-term foreign and local currency sovereign credit ratings on Macedonia at 'BB-/B' with stable outlook, the agency said on ... more
Macedonia’s interior ministry has decided not to approve the request from opposition leader and ex-prime minister Nikola Gruevski for at least 20 more bodyguards. Gruevski says he fears for his ... more