MINSK, 2 March (BelTA) – Belarus President Alexander Lukashenko spoke about the instruments of the financial and monetary policy as he heard out a report of the government, National Bank, oblast executive committees, and Minsk City Hall on Belarus' economic performance in 2017 and the efforts to ensure sustainable economic growth, BelTA informs.
“The National Bank is the flagship of the banking system. When Pavel Kallaur was appointed NBRB head he received extraordinary authorities. Now it is time to act. You should create conditions to promote economic growth and make the banking business more attractive. Right now it is more attractive to sell money rather than to make products. This is wrong,” the head of state emphasized.
“You should convince us that the low inflation rate is a priority for the economic policy in the current period and will be so in the future,” the president continued.
“The inflation expectations of the population are still very high. About 90% of people are convinced that the prices for goods and services will continue to increase. It is not normal.”
“I do not like that you have interpreted the instruction concerning the foreign exchange and gold reserves in your own way and decided that $6 billion by the end of 2018 will be enough. Perhaps, we need more,” the head of state said.
