A. Lukashenko instructed the National Bank and the government to take active measures to reduce inflation

May 11, Minsk /BELTA/. President of Belarus Alexander Lukashenko has instructed the National Bank, together with the government, to take active measures to reduce the inflation rate. The head of state set this task on May 11, while receiving the Chairperson of the Board of the National Bank, Nadezhda Ermakova, for a report, BELTA was informed by the press service of the Belarusian leader. "Everything you tell me about the ruble exchange rate, deposits, and the economy's performance, I know in general terms. The situation is developing well. I think it's time for the National Bank, first of all, and the government to move on to inflation issues. It's time to calm people down," the President said. As the head of state noted, there are currently no grounds for inflation growth, and there is a positive balance in foreign trade. "In principle, we are solving the painful issues that we could not solve for years, and even decades. Now the situation has stabilized. I emphasize again: the population's income will grow. This is unequivocal. We need to think about what to do with inflation and how to combat it," Alexander Lukashenko instructed, noting that inflation in Belarus is under control and has occurred, in part, due to the artificial alignment of prices for consumer goods with neighboring countries. Nadezhda Ermakova reported to the President on the situation in the foreign exchange market, the formation of gold and foreign exchange reserves, and lending to the economy. "The measures taken by the National Bank in the sphere of monetary, interest rate, and exchange rate policies have contributed to curbing inflation," she noted. The President also set the banking system the task of paying additional attention to lending to effective investment projects and housing construction for citizens in need. In addition, instructions were given to maintain and increase gold and foreign exchange reserves. Currently, they amount to $8 billion. According to Nadezhda Ermakova, both economic entities and the population are actively selling currency, and the Belarusian ruble exchange rate has stabilized. The National Bank intends to continue pursuing a tight monetary policy and take measures to reduce inflation. The day before, a decision was made to lower the refinancing rate to 34% per annum from May 16. "We have all the conditions for this today. Inflation allows it, and the refinancing rate will be at a positive level relative to it, precisely according to the standards, the form of calculation recommended by the IMF," said Nadezhda Ermakova.-0-