On September 30 in Minsk, Chairman of the Board of the National Bank of Belarus Roman Golevchenko announced the target indicators of monetary policy for 2027, approved by State President's decree No. 343. He reported that inflation should not exceed 6%, while foreign currency reserves should not fall below $12.8 billion.

Golevchenko told journalists about this, commenting on the document, BELTA reports.

Inflation: goal is to keep price growth within 5%

A total of five target indicators of monetary policy have been established. They cover the main tasks of the NBP and correspond to the medium-term activity program.

The first and most important indicator is the increase in consumer prices at a level not exceeding 6%. According to Golevchenko, inflation is currently at 4.5%, which is below the target trajectory. He emphasized that the NBP will do everything possible so that in 2027 year the growth of prices in the economy also does not exceed 5%. This will

The head of the National Bank noted that this indicator reflects the technological resilience of the banking system. Each year, modern payment systems are developing more and more. Recently, a fast payment system via QR codes was introduced, which, according to him, will be actively developed next year. To ensure all services operate uninterrupted, it is necessary to maintain the required technological level. This indicator imposes serious requirements on system participants.

Investment financing: growth of at least 13%

The increase in the volume of investment financing in 2027 should be no less than 13%. This refers to funds directed toward the country's investment development, to innovative projects implemented by commercial organizations.

The same target of 13% growth applies to 2026 as well. However, the current figure is significantly higher thanks to the efforts made. Over eight months, 4.9 billion rubles of investment loans have been issued.

It is expected that by the end of the year this amount will approach 8 billion rubles. In 2027, the indicator should approach 9 billion. This is the lower threshold set by the National Bank for itself, while it expects even greater growth.

Everything will depend on the economy's demand for such loans, and the banking system, taking into account its existing liquidity, is ready to provide them in full.