The economic efforts made by the Belarusian Government and the National Bank over the past two years have been effective, Belarus’ Deputy Economy Minister Dmitry Krutoy said when speaking at the 11th international conference on Eurasian economic integration in Moscow.
“In recent years a consensus has been reached in Belarus on the main objective which is to ensure the macroeconomic balance. All the institutions of the executive and legislative authorities have been working towards this goal. Monetary targeting and a floating exchange rate, coupled with other mechanisms have yielded tangible results in all sectors”, Dmitry Krutoy said.
According to him, the inflation has been slowing down for the second consecutive year. This year, the rate of inflation in Belarus has hit its lowest in the past seven years. The effective interest rates have been going down; the foreign exchange market has weathered the storm.
“Today people’s inflationary expectations are low. The deposits in national currency are on the rise (up by 8% this year). The share of irrevocable deposits, which serve as a safety net, increased up to almost 50%”, Dmitry Krutoy said. (BelTA/Business World Magazine)
