Inflation projected within 6-8% in Belarus in 2008

In line with the draft guidelines of the monetary policy for 2008 the inflation is projected within 6-8%, Chairman of the Board of the National Bank Piotr Prokopovich said when answering a question of BelTA. A reminder, the 2007 inflation projection is also 6-8%. In January-June the consumer prices upped by 3.6%. According to Piotr Prokopovich, the refinancing rate of the National Bank at the end of 2008 will be reduced down to 7-9% p.a. Today it stands at 10.5%. Over the next year the gold and currency reserves should increase by at least $200-400 million. As of August 1, 2007 they were $3086 million. While developing the draft guidelines of the monetary policy for 2008 the National Bank was guided by the performance of the economy and banking system this year, Piotr Prokopovich said.

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