Lukashenko approves key targets for Belarus’ 2021 monetary policy

<p> MINSK, Dec 24 - PrimePress. Belarus has adopted the main monetary and credit policy guidelines for 2021 within the framework of the Basic Guidelines of the Monetary and Credit Policy for 2021. </p> <p>   </p> <p> The document says that inflation growth is supposed to get stabilized at the level of not more than 5%, while the volume of international reserve assets is not expected drop below $6 billion by January 1, 2022. </p> <p>   </p> <p> This is stated in presidential ordinance #481 of December 22, 2020 which was published on the National Legal Internet Portal of Belarus on December 24. </p> <p>   </p> <p> According to the ordinance, consumer prices (December 2021 on December 2020) should grow by more than 5% as of January 1, 2022. </p> <p>   </p> <p> The growth of average broad money supply (December 2021 on December 2020) is expected at 7-10%. Furthermore, average broad money supply will increase by 11-14% and ruble monetary base by 10-13%. </p> <p>   </p> <p> According to the International Monetary Fund's methodology, Belarus' international reserve assets are not expected to drop below $6 billion. The share of banks' non-performing assets in the assets exposed to credit risk - no more than 10%. </p> <p>   </p> <p> According to the ordinance, monetary policy in 2021 will be aimed at stabilizing inflation. The National Bank of Belarus plans to keep up price stability in a regime of monetary targeting by controlling the volume of money supply, said the press release. </p> <p>   </p> <p> The document says that financial stability will be preserved through measures to limit systemic risks, maintain the level of gold and foreign currency reserves, ensure the safe functioning of banks, non-bank financial and non-credit financial institutions, the Development Bank of Belarus, as well as the effective operation of the payment system. End </p>

2020-12-25

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