President considers stability of Belarus financial system

15 января 2021

The stability of the banking system and, more broadly, of the entire financial system of Belarus, is analyzed by the President today.

Alexander Lukashenko was primarily interested in the dynamics of gold and foreign exchange reserves (this is an indicator of stability), lending to the real sector and the readiness of banks to withstand external shocks, from closed economies (where Belarus exports its goods) to attempts to strangle Belarusian business by political motives. In all matters, the President insists on a reasonable balance. Moreover, the new year does not yet promise any relief to the global and regional economy.

Today, the President announced a big meeting summing up the results of the economic year before the All-Belarusian People's Assembly. It will consider the prices increase (annual inflation exceeded the plan by two percent), the dynamics of bank deposits and lending to the real sector. The President stressed that in a difficult situation, Belarusian finances remained stably reliable.

The head of the National Bank assured that the balance is maintained in Belarus. As of January 1, the National Bank exceeded the plan for gold and foreign exchange reserves by almost $ 170 million. They amounted to about 7.5 billion dollars. This financial "safety cushion" allows Belarus remaining a reliable borrower in the global market and maintaining the national currency rate, the bankers are sure.