People’s Bank: Economic growth accelerates and inflation continues to fall in North Macedonia

The Council of the National Bank of the Republic of North Macedonia analyzed the latest macroeconomic data, which show that the domestic economy is maintaining its stability despite the uncertainty present in the external environment. According to the assessment, the latest indicators of economic activity in the country currently appear somewhat more positive.

High-frequency supply-side data signal a faster pace of economic growth during the second quarter. This development has been supported by a significant expansion in construction, increased industrial production, and higher real turnover in the hospitality sector, while overall trade has maintained stable trends.

Inflation has entered a slowing trajectory and is currently within the National Bank’s forecasts. However, risks related to the external situation continue to be considered unfavorable.

Foreign exchange reserves stood at €4,936.4 million at the end of June 2026, remaining at a safe level.

Monetary indicators point to a further significant increase in deposits and lending activity. Support from lending is proving stronger than forecast.

During the meeting, the Council adopted the Decision on the core number of payment service providers and the standards for establishing payment accounts. This decision improves the existing regulatory framework by adapting it to the development of payment systems and the implementation of international standards, as well as aligning it with the standards used in the SEPA area./Telegrafi/