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Belarus’ PM: Currency market shows stability, Belarusian ruble regains people’s trust

MINSK, 14 August (BelTA) - The foreign currency market is showing stability, with national currency confidently regaining people’s trust, Belarusian Prime Minister Roman Golovchenko said at the Council of Ministers’ meeting on 14 August, BelTA has learned.

“On the agenda of today’s meeting are Belarus’ social and economic development results for H1 2024. The results achieved in January-June 2024 are positive. Four out of the five most important performance indicators have been fulfilled. The fifth - exports – has been slightly underperformed,” Roman Golovchenko said.

In January-June, Belarus’ GDP grew by 5%, with the forecast at 3%. All the country’s regions and Minsk secured the growth of gross regional product. The task was fulfilled by all the regions, except for Gomel Oblast - 2.1% against the target of 2.8%.

High growth rates were ensured in industry (up 7.1%), agriculture (9.7%), construction (8.8%) and trade (11%).

“The measures we have taken together with the National Bank are contributing to the macroeconomic stability in the country. All social spending obligations are fulfilled in a timely manner and in full. The foreign currency market is showing stability, with the national currency confidently regaining people’s trust. Since the start of the year, household deposits in the national currency have increased by Br1.4 billion, or 17.5%,” the prime minister said.

Over the past period, gold and forex reserves went up by $400 million to amount to $8.5 billion on 1 August. Inflation is within the forecast band, making up 3.4% in June against December, while the forecast at no higher than 3.9%.

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