Finance Ministry to lower interest rates of state bills

Vice Premier and Finance Minister Zoran Stavreski announced Thursday interest rates of state bills would drop, thus providing an impulse for banks to put more money in the economy.

"I believe conditions are ripe for lowering of interest rates. The next auction will include state bills with lower interest rates. Thus, the Finance Ministry is sending a signal to banks to put more funds in the economy through loans or reduce their own interest rates. The best option would be parallel implementation", FinMin Stavreski told reporters at today's opening of a customs terminal in Prilep.

According to him, banks usually follow signals of the monetary authorities, since the National Bank of the Republic of Macedonia has already lowered interest rates of its bills, followed by the state bills.

Stavreski added that general conditions and liquidity of banks allowed for the lowering of interest rates.