National Bank revised draft of the monetary and credit policy of the country in 2011, taking into account the comments of the president. This was stated by the chairman of the National Bank Petr Prokopovich on November 11 in his report to President Alexander Lukashenko on the results of the Belarusian monetary and credit policy implementation in January-October 2010.
«National Bank has completed to work out these issues and as soon as possible, literally tomorrow, the final document will be submitted to the Head of State,» Petr Prokopovich said.
As it became known to Telegraf, the head of the National Bank also speculated on the implementation of basic indicators of monetary policy over the first ten months. According to him, National Bank will also ensure their implementation by the end of the year.
As noted by Petr Prokopovich, the economy real sector lending has grown by over 30%, or Br20 trillion ($6.6 billion) since the year’s beginning. He also said that all the credit needs of the population are met. In addition, head of the National Bank promised to provide the planned 36-40% rate of loans growth over 2010.
Petr Prokopovich also commented on implementing the program of interest rate policy, primarily on the refinancing rate reduction (National Bank has six-fold reduced it over 2010) and interest rates in the financial market.
