Skopje, 1 October 2004
Press release of the NBRM
The project on transferring funds of the off-budget, i.e. public funds (Pension and Disability Insurance Fund, Employment Bureau, Health Insurance Fund and Road Fund) from the commercial banks to the Treasury Account maintained with the National Bank of the Republic of Macedonia is delivered in close cooperation between the Ministry of Finance, the National Bank of the Republic of Macedonia and the commercial banks the public funds' assets were deposited in.
The delivery of this project is with a view to designing more efficient system of public finance and corresponds with the recommendations of the international financial institutions. The assets transfer from the commercial banks to the Treasury Account with the National Bank of the Republic of Macedonia will ensure more efficient management of the assets of the public funds, and simultaneously, more efficient management of the liquidity of the banking system.
The project is to be delivered by the end of 2004. The project is carried out transparently and in several stages, with dynamics determined in advance and therefore no unfavorable effects on the liquidity of the banks where the assets of the public funds are deposited are expected.
Governor's Office
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