Myasnikovich talks of currency stability again

According to the Prime Minister, in the near future rates of interest at the market are to return “to normal values”.

Mikhail Myasnikovich has stated that during the festive ceremony of awarding prominent people of Belarus.

Relating achievements of the Belarusian economy, Prime Minister said that “stability in the economy and at the exchange market will be guaranteed.” Moreover, in the near future one more system-level task is to be completed: costs of lending resources are to be reduced, and rates of interest are to return back to normal values, charter97.org has been told by the press-service of the government.

As it turns out, it is very easy to maintain stability at the exchange market and at the same time to bring down rates on credits. Main conditions have been created for that already: $2 bn has been charged to the budget and gold and currency reserves; five months in a row positive balance of assets acquisition and payments in export and import of goods and services had been secured. It makes $843 mln (growth by a factor of 1.9 as compared to the same period of the last year); positive balance of foreign trade, $658 mln.

It should be reminded that just over the first 3 months of the year 2014 the negative balance of payments was minus $1.07 bn, and the long-awaited loan of $2 bn from the Russian government has not been received by Belarus finally. Instead of that money from a short-term bridge credit of VTB bank were charged to gold and currency reserves at a commercial rate, and it should be repaid in 6 months at the latest.