Updated at 13:48,15-08-2017

National Bank keeps inflation forecast unchanged: 16-17% by year end

Tamara Savich, Euroradio

National Bank CEO Nadzeya Yermakova answered Euroradio question during a live phone-in on July 9.

Euroradio asked how many zeroes had been removed on the new money and when Belarusians would see the printed banknotes, which state leader Alyaksandr Lukashenka mentioned so many times. The National Bank head assured it wouldn't happen soon due to the high level of inflation.

Yermakova: "When the money goes into turnover, you will see it - it looks different. The money has been printed and we just keep it due to the inflation problem. Unfortunately, the level of inflation is very high. Today it's 19% in half a year. Annually, it was 19% since July 2013 till July 2014. We have planned 16-17% of inflation by the end of the year".

Yermakova also added that the National Bank's refinance rate could make 18% annually. The dollar's rate will be Br 10700-10800 in the end of 2014.