The National Bank of North Macedonia decided to keep the main interest rate unchanged at 4% to maintain a cautious approach and control inflation.
Inflation averaged 4.1% in 2025, slightly above the historical average, so stabilizing prices remains a priority.
Global uncertainty, rising commodity prices, and domestic demand still pose risks to future inflation.
Economic growth is steady, with GDP growing 3.8% in late 2025 and expected to improve slightly, supported by infrastructure projects and strong bank lending.
Foreign exchange reserves reached €5.6 billion, considered sufficient to maintain currency stability.
Bank deposits and loans are growing, showing a healthy banking sector.
However, external risks such as global trade tensions and geopolitical issues remain.