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4 Sep 2017

Belarus’ gold and forex reserves projected at $6bn in 2018

MINSK, 4 September (BelTA) – Belarus plans to hold its gold and forex reserves at the level of $6 billion in 2018, Belarus’ First Deputy Economy Minister Dmitry Krutoi said in an interview to the Belarus One TV channel on 3 September, BelTA has learned.

According to the first deputy minister, a deficit-free balance of payments has been developed for 2018. “We plan to preserve the gold and forex reserves at the level of at least $6 billion and honor the foreign debts to the total amount exceeding $3 billion through the country’s economic performance,” Dmitry Krutoi said.

Next year Belarus does not plan to attract any new foreign loans. The first deputy economy minister said that “there are only two more tranches from the Eurasian Fund for Stabilization and Development”. Apart from that, “a small window has been opened on the market of eurobonds”. Belarus will follow the situation and make the best use of every favorable moment.

Dmitry Krutoi forecasted the exchange rate of the Belarusian ruble at the start and the end of 2018, with the fluctuations seen within some 5-6%. The official explained that the exchange rate depends directed on the inflation rate, which is projected at the level of below 7%.


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