Inflationary Pressures Driven by Economic Shifts, Says Expert
Recent inflation rates in North Macedonia are primarily attributable to shifts in the currency’s value and previous economic conditions, according to economist Christian Misovski. He addressed concerns regarding the current economic climate, differentiating it from the experiences of those generating “false hysteria” with inflated anxieties. Currently, contracts are being signed for 430 and 450 dinars per kilogram of currency, a significant contrast to the situation five to six years ago when a kilogram was valued at 150 dinars.
Misovski highlighted that the current inflation rate stands at 4.5 to 4.7 percent, a notable increase from the peaks of 19, 20, 21, and 22 percent observed over the past four years. The government has implemented substantial support measures, disbursing over 2 billion dinars in subsidies to more than 15,000 currency holders. This includes direct payments to agricultural producers, representing a total investment of approximately 2 billion dinars since the government’s election.
These payments are part of a broader strategy focused on supporting the agricultural sector. Misovski emphasized the need to understand the complex interplay of previous and current economic factors influencing the currency’s value.
Topics: #currency #previous #current
“It’s concerning to hear that currency fluctuations and past economic factors are the main drivers of inflation.”