Hałoŭčanka continues to insist that there is no overheating

March 21, Pozirk. The new central bank governor, Raman Hałoŭčanka, has said at a meeting with Belarusian bankers that the regulator does not observe signs of economic overheating that would require tightening monetary policy.

Most indicators are in the “neutral zone,” so there will be no active monetary policy measures, although some aspects need to be “fine-tuned,” Hałoŭčanka said.

The central bank’s top priority is maintaining macroeconomic balance, he added.

To achieve this, the National Bank must address two tasks: “Creating monetary conditions conducive to stable low inflation and ensuring the reliable and sustainable functioning of the financial sector and the payments market.”

Economists said clear signs of overheating accompanied strong economic growth in Belarus during 2024. As early as August, then-Prime Minister Hałoŭčanka dismissed these concerns as evidence of experts’ incompetence.

He was appointed to lead the National Bank on March 10.

Economy

Economy

Cash in circulation up 22 percent year on year – central bank

March 14, Pozirk. Belarus’ cash in circulation (M0) has grown by 0.4 percent since the start of 2025 and by 22 percent year on year to 11.9 billion rubels (some $3.8 billion at the current exchange rate) on March 1, …

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