OREANDA-NEWS. On June 08, 2007 Major Monetary Management Guidelines for H1 2007 and the year as a whole must be reached, Belarus President Alexander Lukashenko said, as he heard out a report by Chairman of the Board of the National Bank of Belarus (NBB) Piotr Prokopovich, reported the press-centre of  Gomelinvest.

The head of state was informed, this year the national banking system successfully reaches planned monetary management goals. Special attention is focused on parameters directly influencing the achievement of the national social and economic development goals.

Alexander Lukashenko was informed, the financial situation is stable. This year Belarusian ruble gained 0,2% against the US dollar, with the exchange rate keeping steady throughout May to total Br2,145 per $1 as of June 1. Such stability has been in place for the last three years.

Piotr Prokopovich also said, this year Belarusian banks provide unprecedented lending support to the real economy sector. In January-May 2007 borrowing grew by over 60% on the year to almost Br24 trillion. The figure is more that twice as much as the one set by this year’s Major Monetary Management Guidelines. Lending to individuals grows as fast as well.

Alexander Lukashenko demanded that in the future banks should continue paying special attention to crediting the real economy, ensuring a gradual decrease in the price for credit resources.

The head of state also stressed the need to accelerate the replenishment of the country’s gold and foreign currency reserves. Earlier plans provided for an increase in the reserves up to $3 billion by 2011. The President said the goal should be reached this year in order to secure the stability of the financial system.

As of June 1, 2007, Belarus’ gold and foreign currency reserves amounted to $2,224 billion in national terms. Since early this year the sum has grown by $470 million, $70 million above this year’s forecast. Piotr Prokopovich assured the President the instruction will be fulfilled within the stated time.