The Government’s resignation, the discussions on the situation in the banking sector and the postponement of the visit by the IMF mission are factors that influence the currency market, the first vice governor of the National Bank Marin Molosag said in a news conference. According to him, all these discussions do not create positive conditions for the development of the market, IPN reports.
Marin Molosag stated that a number of major components affect the currency market, including the remittances, trade, direct investments and the capital flow as well as the loans and other resources that come from the development partners. “If we take them one by one, we can see a decline in this regard though the situation on the currency market stabilized over the last few months,” he said.
The official noted that the net supply of currency from private individuals has been smaller during the last several months, but increases from month to month. “When less currency comes to the country, the trade starts to adjust. The new flow related to the export, import and services in the first five months of this year was by 40% lower than last year. The direct investments are also lower. The foreign loans and grants in the first four months decreased, but the largest sums usually come in the second half of the year. There is foreign currency in the country and these figures show that there is no pressure on the currency market in the short term,” said Marin Molosag.
The National Bank is waiting for a new Government to be installed so that the IMF mission could be invited to discuss budget and macroeconomic factors and ensure economic stability.
The first vice governor of the National Bank also said that the situation in the banking sector hasn’t changed essentially. The banks that are under special administration release people’s deposits and there is enough money for this. But the depositors prefer to wait for the maturity so as to take also interest.
