National Bank reports economic resilience and new IBAN mandate

The National Bank has reviewed the latest macroeconomic indicators, noting that the domestic economy continues to show resilience despite an uncertain external environment. Recent data suggests an acceleration in economic growth for the second quarter, driven by strong construction, industrial production, and real turnover in the hospitality sector.

Inflation is slowing and remains within the Bank’s expectations. Foreign exchange reserves stood at 4,936.4 million euros at the end of June 2026, remaining within a safe zone. Monetary data also indicates solid growth in deposits and credit activity, with credit support exceeding expectations.

Additionally, the Bank has introduced new regulatory standards for payment services to harmonize with SEPA standards. A significant change includes the mandatory use of the IBAN standard as the sole identifier for payment accounts. Starting November 1, 2026, all national payment transactions will be initiated, processed, and executed using IBAN to ensure standardized identification for both national and cross-border payments.