Belarus’ gold and foreign exchange reserves continue to grow — since the beginning of the year, they have increased by 35%. In July, the increase was 6%.
According to the National Bank, this happened thanks to to the sale of bonds, purchase of foreign currency at the Belarusian Currency and Stock Exchange, and increasing the cost of monetary gold. Now Belarus’ international reserves amount to more than six and a half billion dollars in equivalent.
They have risen in spite of the half a billion dollar expenses: the amount of the government’s and the National Bank’s internal and external commitments last month. However, Belarus’ big expenses are yet to come: this year, the government is to ensure the payment of loans for the amount of $ 3.5 billion, and the following year it is to transfer $ 800 million in seven-year-old Eurobond payments.
According to the plans for 2017, gold and foreign currency reserves are expected to grow by at least $ 500 million.
