“As for the monetary policy, Roman Aleksandrovich [Golovchenko, Head of the National Bank], I want to be clear from the very start: I expect the National Bank to deliver a clear plan of action, one that is fully tied to our economic growth targets,” the president said.
Aleksandr Lukashenko also inquired about what new proposals the National Bank's leadership has for supporting exporters, what the strategy is for managing gold and foreign currency reserves, and where the additional revenues are being allocated.
The head of state recalled that, as prime minister, the current head of the National Bank Roman Golovchenko had spoken about the need for the National Bank to play a greater role in the economy. “You were sent there not for a rest, and not because you were performing poorly. I've already told you this. It's because you, like no one else, understand what the National Bank means for the economy,” the Belarusian leader said.
Regarding the growth of gold and foreign currency reserves, Aleksandr Lukashenko noted that this is a positive development, but it raises another point: “The fact that there is more foreign currency is good. But this currency must be put to work. We must have a reserve exactly as large as we need. Perhaps we should gradually release these funds into circulation. We have to manage things responsibly.”
