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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of October 10, 2024 No. 325

About approval of the Main directions of monetary policy of the Republic of Belarus for 2025

Based on part one of article 27 of the Bank code of the Republic of Belarus the Board of National Bank of the Republic of Belarus DECIDES:

1. Approve the Main directions of monetary policy of the Republic of Belarus for 2025 (are applied).

2. This resolution becomes effective since January 1, 2025.

Chairman of the board

P.V.Kallaur

Approved by the Resolution of Board of National Bank of the Republic of Belarus of October 10, 2024 No. 325

The main directions of monetary policy of the Republic of Belarus for 2025

Chapter 1. Target indicators of monetary policy

1. Monetary policy of the Republic of Belarus as component of single state economic policy is carried out by National Bank by means of implementation of actions, main objectives of its activities directed to achievement and accomplishment of the functions assigned to it according to the legislation.

Main objectives of activities of National Bank according to article 25 of the Bank code of the Republic of Belarus are maintenance of price stability and ensuring financial stability. Also National Bank promotes sustainable economic development of the country.

2. The target indicators of monetary policy answering the purpose of activities of National Bank affirm the President of the Republic of Belarus. The consumer price index acts as the indicator of price stability. Financial stability is characterized by the indicators connected with stable functioning of banking sector, smooth operation of the payment market of the Republic of Belarus and ensuring general macroeconomic balance. The indicator of surplus of requirements of banks to economy reflects extent of assistance of banking sector to sustainable economic development of the country.

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