OREANDA-NEWS. Belarus’ President Alexander Lukashenko has instructed Nadezhda Yermakova, Chairwoman of the National Bank of Belarus (NBB), to start paying due attention to inflation growth and the increase in consumer prices, the president’s press-service reports.

“You have the relevant levers and you should make a good use of them. But if there is high inflation growth, what development can we talk about?” Alexander Lukashenko said.

The president admitted that there were administrative decisions behind price hikes in certain cases, “but it was an obstacle that we should have overcome”. “But later on I will ask very tough questions regarding inflation, price growth,” Lukashenko said. “Today economic entities enjoy good profits, profitability. An increase in prices is not relevant. Moreover, the exchange rate of the Belarusian ruble is at a decent level,” Lukashenko said.

In his words, the fact that in Q1 2013 corporations and individuals sold more foreign currency than they bought is a good indicator in the complicated foreign economic conditions.

Speaking about financial matters, Alexander Lukashenko made it clear that that the funding for the forthcoming sowing campaign should not affect the balanced growth of the country’s economy. “I would like to warn you. No matter how hard it can be, it doesn’t mean we can now ‘loosen the sack strap’ and invest huge money in the sowing campaign or something else. Everything should go as normal. The economy cannot be held hostage of the sowing campaign. It is mandatory,” stressed Alexander Lukashenko.

In turn, Nadezhda Yermakova informed the president that the situation on the financial market had been stable and there was no cause for concern.

The NBB chief informed the President about the gradual reduction of interest rates on loans in Belarusian rubles. Meanwhile, the share of troubled loans in the banking system is not rising.