Belarus’ monetary policy to focus on reducing inflation in 2019

Belarus President Aleksandr Lukashenko has signed decree No. 484 “On approving major priorities of the monetary policy of the Republic of Belarus in 2019”.

The monetary policy will keep a strategic focus on ensuring stable prices as a foundation for the sustainable and balanced development of the Belarusian economy.

The main priority of the monetary policy in 2019 will be the reduction of inflation measured by the consumer price index to the level of 5% (December 2019 against December 2018).

The interest rate policy will take into account the need to reach the inflation target. In real terms it is planned to keep interest rates at a positive level in order to promote national currency savings, ensure financial stability and sustainable economic growth.

Taking into account the efforts of the government and the National Bank to pay internal and external foreign currency loans, the international reserves will make up at least $7.1 billon at the end of 2019.

It is expected that the implementation of this monetary policy in 2019 will held slow down inflation processes, ensure financial stability, maintain macrocosmic balance.