22.10.2012
Belarus President in favor of present foreign currency market policy
MINSK, 22 October (BelTA) – On 22 October President of Belarus Alexander Lukashenko heard out a report from Chairwoman of the Board of the National Bank of the Republic of Belarus (NBRB) Nadezhda Yermakova, the press service of the Belarusian leader told BelTA.
The head of state remarked: “Just a while ago we stated that we had managed to some extent turn round the small but negative trends on the currency market that had been brought about primarily by gossip and politics. I’d like you to tell me in perspective about what is going on in the currency market at present and whether the improvement trend is getting stronger”.
Alexander Lukashenko said: “We should inviolately pursue the policy we have determined and have announced before the nation. People should understand and trust us absolutely. If the National Bank proclaims such a policy, it must be pursued,” stressed Alexander Lukashenko.
The President was also interested in Nadezhda Yermakova’s opinion regarding the Belarusian economy performance as a whole, particularly export: “How is the situation developing? What about money owed to our companies? It has been reported that sometimes earnings failed to return to the country on time”.
The NBRB head said that the targets set for 2012 will be hit. “The inflation is within the planned range. Since January and till 16 October inclusive the price index stood at 117.1%. The average monthly increase is 1.7%. The basic inflation totaled only 14.1%. Administratively regulated prices and vegetable product prices, which are conditioned by seasonal factors, have risen by 21.6%. It means that the inflation is tamed by monetary and market methods. It is the policy that has been declared,” remarked Nadezhda Yermakova.
“The situation has improved on the currency market taking into account tax days and the fact that the National Bank has used monetary methods to squeeze the money supply, the resource base of the banking system. On Thursday, Friday, and today the National Bank was buying foreign currency, thus making the Belarusian ruble stronger,” said the NBRB head.
The head of state remarked: “Just a while ago we stated that we had managed to some extent turn round the small but negative trends on the currency market that had been brought about primarily by gossip and politics. I’d like you to tell me in perspective about what is going on in the currency market at present and whether the improvement trend is getting stronger”.
Alexander Lukashenko said: “We should inviolately pursue the policy we have determined and have announced before the nation. People should understand and trust us absolutely. If the National Bank proclaims such a policy, it must be pursued,” stressed Alexander Lukashenko.
The President was also interested in Nadezhda Yermakova’s opinion regarding the Belarusian economy performance as a whole, particularly export: “How is the situation developing? What about money owed to our companies? It has been reported that sometimes earnings failed to return to the country on time”.
The NBRB head said that the targets set for 2012 will be hit. “The inflation is within the planned range. Since January and till 16 October inclusive the price index stood at 117.1%. The average monthly increase is 1.7%. The basic inflation totaled only 14.1%. Administratively regulated prices and vegetable product prices, which are conditioned by seasonal factors, have risen by 21.6%. It means that the inflation is tamed by monetary and market methods. It is the policy that has been declared,” remarked Nadezhda Yermakova.
“The situation has improved on the currency market taking into account tax days and the fact that the National Bank has used monetary methods to squeeze the money supply, the resource base of the banking system. On Thursday, Friday, and today the National Bank was buying foreign currency, thus making the Belarusian ruble stronger,” said the NBRB head.