Belarus expecting stabilization of Russian ruble at an average of 90 rubles/$1 for 2024

MINSK. Oct 23 (Interfax) - The target economic growth forecast for Belarus in 2024 of 3.8% is based, inter alia, on the expectation of a stabilized Russian ruble/US dollar exchange rate at the level of 90 rubles/$1 on average per year, the preamble to the main directions of monetary policy for the next year, as approved by the board of the National Bank of the Republic, said

The document was published on the National Bank's website on Monday.

"The most important parameters of the forecast for the socio-economic development of the Republic of Belarus for 2024 were based on a macroeconomic scenario built on the following basic premises: restoration of the global economic growth rate to 2.4-3% in 2024, and stabilization of the average annual exchange rate of the Russian ruble to the US dollar at close to 90 rubles for $1 at a price of Urals oil of $75 per barrel," the document says.

The conditions also include a gradual return of inflation in other countries to target levels: 4% in Russia, 2.9% in the Eurozone, and 2.3% in the USA on average per year.

In early October, a decree from the President of Belarus approved the key target parameters of the socioeconomic development forecast for 2024: GDP growth of 3.8%, growth in exports of goods and services of 7.6%, investment in fixed capital of 3.9%, growth in citizens' real monetary income of 3.5%, and inflation of no more than 6%.