Monetary policy priorities for 2017 approved in Belarus

    Belarus President Aleksandr Lukashenko signed Decree No. 359 “Concerning the main priorities of the monetary policy of the Republic of Belarus for 2017”.

    In 2017, Belarus’ monetary policy will retain continuity and will promote Belarus’ sustainable and balanced economic development by means of the price stability.

    The reduction of inflation to the level comparable with the consumer price index (to 9%) will be the main priority of Belarus’ monetary policy. Monetary targeting aimed at exercising control over the money supply will be continued. Broad money supply will still be used as an intermediate factor of the monetary policy, the Belarusian ruble monetary base will be the operational factor. The average growth of the broad money supply is estimated at 12-16%.

    In 2017, the National Bank will continue developing the financial market and the payment system, enhancing trust in the national currency and reducing the dollarization of the economy, creating conditions for the improvement of standards and quality of banking services.