National Bank of Macedonia - Annual Report 2006

Petar Goshev, the governor of the National Bank of Macedonia, judged 2006 a successful year for the central bank.

Goshev said the 12 months built on the progress made in 2005: "Inflation was maintained at a low level. The gross domestic product registered a solid growth rate. The banking sector grew at a fast pace, and fiscal policy remained prudent."

But inflation crept up to 3.2%, which the governor blamed on higher taxes on tobacco and other goods along with the global rise in oil prices

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