Belarus to build up gold and foreign currency reserves up to USD 3 billion by 2010
3 February 2006
By 2010 Belarus is set to build up gold and foreign currency reserves up to USD 3 billion, or 2,5 times, chairman of the board of the National Bank Piotr Prokopovich has told reporters today.
The target is ensured in the draft guidelines of the monetary policy of Belarus for 2006-2010. “Today we are working intensively on the program and are set to pass it this April”, Piotr Prokopovich said.
To date the gold and foreign currency reserves amount to about USD 1,3 billion. In 2006 they are expected to grow by USD 470 million – USD 520 million.
In line with the draft program, in 2006-2010 the National Bank will seek to meet the targets of the socio-economic development programs, increase the living standards of people. “We have gained a wealth of working experience. We have got necessary potential”, the head of the National Bank said.
The Belarusian ruble is expected to continue strengthening against the Russian currency and USD.
