In the latest edition of the second season of the podcast Business Club, the President of the Economic Chamber of North Macedonia, Branko Azeski, spoke with Prof. Dr. Trajko Slaveski, Governor of the National Bank of Macedonia, whose constitutional competences are of significant importance to business.

Prof. Dr. Slaveski shared his vision of the role of the National Bank, as well as his experiences from his time as Minister of Finance in the Government of the Republic of Macedonia from 2006 to 2009.

In the conversation, he emphasized that the key to rapid growth of the country lies in bold reforms and taking risks. “The recipe for rapid growth in long-term investments—in the economy, education, healthcare, and capital expenditure—is the implementation of reforms that require courage and risk-taking.” At the same time, he highlighted that for all the key reforms that had been undertaken, he received strong support from the Economic Chamber and from President Azeski.

The podcast outlined the goals of the National Bank, which relate to price stability, closely linked with financial stability, as preconditions for sustainable economic development. “Inflation must be kept under control, and within that framework, the economy (business) and citizens must be enabled to carry out their plans for investment and consumption,” stressed Prof. Dr. Slaveski.

Responding to President Azeski’s question on transparency regarding foreign exchange and commodity reserves, Prof. Dr. Slaveski underlined that the National Bank is fully transparent—its data are publicly available on its website, and an annual report is submitted to the Assembly.

Later in the podcast, the discussion touched upon his ministerial work, where several significant initiatives he undertook were mentioned, some of which are still applied today:

·       Early repayment of the debt to the Paris Club, without a negative effect on liquidity, but with a positive impact on the country’s image;

·       Advocating for rational spending of public finances;

·       Introduction of the “gross salary” concept—integrated collection of contributions;

·       Ensuring that salaries are paid no later than the 15^th of the month.

The Business Club podcast continues to serve as a platform for open discussions on economic policies, with the aim of encouraging development and strengthening the affirmation of Macedonian business.