By 2015, Belarus should reach an inflation rate of no more than 5-6%

February 24, Minsk /BelTA correspondent/. Belarus should reach an inflation level not exceeding 5-6% by 2015. This is stipulated by the Program of Government Activities for 2011-2015, BelTA correspondent reports. In addition, in terms of monetary policy, the main tasks are defined as ensuring the stability of the national financial and monetary system, increasing money supply (emission) taking into account the target inflation rate and the set currency corridor; increasing the stability of the banking system, reducing the share of problem bank assets in assets exposed to credit risk to no more than 4%. The current five-year period also envisages a reduction in the interest rate on loans by decreasing the National Bank's refinancing rate to 6-8% per annum by the end of 2015. The peg of the Belarusian ruble's exchange rate to a basket of foreign currencies within the established corridor will be maintained, but a gradual transition to a more flexible exchange rate formation will be carried out as the internal and external balance of the economy improves. The formation of gold and foreign exchange reserves will be carried out at a level ensuring the country's economic security – at least 3 months of import volume. In addition, in accordance with the Program, it is necessary to ensure Belarus's entry into the top 30 countries in terms of international ratings characterizing the development of the banking sector, the lending and settlement system, and the effectiveness of monetary policy. The resolution of these tasks will be carried out within their competence by the National Bank, the Ministry of Economy, the Ministry of Finance, and other state bodies in accordance with the Program of Socio-Economic Development of the Republic of Belarus for 2011-2015. -0-