Central Bank of Belarus

In December 1990, the Supreme Soviet of the Belorussian Soviet Socialist Republic passed the Laws "On the National Bank of the Republic of Belarus" and "On Banks and Banking Activities in the Republic of Belarus". All institutions of the USSR banks on Belarussian territory were declared the property of the country. The National Bank of the Republic of Belarus was established on the basis of the Belorussian Republican Bank of the USSR State Bank. Specialized state banks were transformed into joint-stock commercial banks – Belagroprombank, Belvnesheconombank, Belbusinessbank, Belpromstroibank, as well as Savings Bank. ? ? ? ?

The President of the Republic of Belarus approves the Statute of the National Bank and modifications and/or amendments thereto; The President of the Republic of Belarus appoints, with the consent of the Council of the Republic of the National Assembly of the Republic of Belarus, the Chairman and the Members of the Board of the National Bank, and removes them from their positions notifying the Council of the Republic of the National Assembly of the Republic of Belarus accordingly;

The President of the Republic of Belarus designates an auditor to examine the activity of the National Bank; The President of the Republic of Belarus approves the annual report of the National Bank with due account for the opinion of the auditor and the distribution of the National Bank's profit. protecting the Belarusian ruble and ensuring its stability, including its purchasing power and the rate of exchange relative to foreign currencies; ? developing and strengthening the banking system of the Republic of Belarus; ? ensuring efficient, reliable, and secure functioning of the payment system. Gaining profit is not the main objective of the National Bank. ? ? ? ? ? ? ?

Issue money; regulate money circulation; regulate credit relations; arrange for the functioning of the payments system of the Republic of Belarus; act as the lender of last resort with respect to banks and provide refinancing ; carry out foreign exchange regulation; ? From 1990 till now there were five heads of the National Bank Tamara Vinnikova (1996 -1997) Genadiy Aleynikov (1997 – 1998) Piotr Prokopovich (1998 – 2011) Stanislav Bogdankevich (1990 – 1996) Nadejda Ermakova ? National currency of the Republic of Belarus is belarussian ruble in January 2009 by 20% in May 2011 by 56% in October 2011 by 52% exchange rate US dollar Euro Russian ruble 2650 3703 90,16 4930 6914,82 173,95 8680 11900 277 Interest rates, at the begining of the year 18,00 16,00 14,00 12,00 2005 2006 2007 2008 2009 2010 Interest rates in 2011.

50 45 40 35 30 25 20 15 10 5 12 13 14 16 18 20 22 27 30 Interest rates in 2011 35 40 45 10,00 8,00 6,00 4,00 2,00 0,00 2005 2006 2007 2008 2009 2010 0 Inflation rates in Belarus 60 53,23 50 40 30 Inflation rates 20 10,34 10 7,03 14,84 8,42 12,95 7,74 0 2005 2006 2007 2008 2009 2010 2011 ? In 2010 the cap for public debt set by goverment was 2 billion dollars, in 2011 it was raised to 13 billion. Public debt in % to GDP 25 20 19,19 19,59 15 10,66 10 6,57 5 6,64 8,91 Public debt 0 2005 2006 2007 2008 2009 2010 2005 2011 Production Industry 14 31,1 13,3 Agriculture 31,7 Construction 19,9 Transport and communication Trade Other economic activities Taxes 22,4 8,4 9,3 8,1 12,5 6,7 7,2 6,8 8,6.

Despite the fact that the main source of income in Belarus is export of goods, Belarus has negative trade balance. Export and import of goods in Belarus, mln. $

Year Export Import Delta 2002 8 021 9 092 -1 071 2003 9 946 11 558 -1 612 2004 13 774 16 491 -2 717 2005 15 979 16 708 -729 2006 19 734 22 351 -2 617 2007 24 275 28 693 -4 418 2008 32 571 39 381 -6 810 2009 21 304 28 569 -7 265 2010 25 284 34 884 -9 600 2011 41 419 45 759 -4 340 1. 2. 3. 4. 5. www. belstat. gov. by www. tut. by  http://data. worldbank. org  http://www. nbrb. by  www. minfin. by ? ? ? ? ? 1990 1996 1997 1998 2011 — — — — — 1996 — Станислав Богданкевич; 1997 — Тамара Винникова; 1998 — Геннадий Алейников; 2011 — Петр Прокопович; - Надежда Ермакова.