Increased Reserves for Belarus Due to Accumulated Surplus Value
Belarus has made a significant stride in its economy, as its gold and foreign exchange reserves have reached new historical highs, according to analysts from the Eurasian Development Bank.
The increase in reserves, totalling more than $3 billion, has been a positive development for Belarus's economy. The Eurasian Development Bank, an analyst organization that provides insights on the Belarusian economy, highlighted this growth in their weekly macroeconomic review.
The surge in foreign currency reserves, amounting to $389.8 million, was primarily due to a $273.5 million surplus of currency supply over demand in the market as a whole. This trend continued throughout July, with Belarus's reserves increasing by $403.9 million.
As a result, as of the beginning of August, Belarus's reserves reached an impressive $11.941.6 million. The value of gold in Belarus's reserves also increased by $22 million.
The Eurasian Development Bank noted this increase in Belarus's reserves, which comes amidst a backdrop of strengthening economic ties in the region. Belarus's economic reliance on Russia and proximity to the Eurasian Economic Union influence its currency and gold reserves situation due to regional economic cooperation.
Furthermore, Belarus has experienced notable economic and trade developments in recent years. For instance, bilateral trade between Belarus and the UAE surged dramatically from $82.6 million in 2021 to $3.9 billion in 2024, reflecting intensified economic integration that might impact foreign exchange inflows and reserves.
While direct detailed analysis from the Eurasian Development Bank specifically on the 2021 increase in Belarus's reserves is not found in the search results, Belarus's reserves were estimated at approximately $8.424 billion in 2021, ranking it 88th globally according to available economic data.
In conclusion, while the exact quantitative increase in Belarus’ reserves in 2021 from the Eurasian Development Bank perspective is unavailable in the current data, the state of reserves was about $8.4 billion, and Belarus’ economic ties in the region have been strengthening, which can impact its reserves trends. For a more detailed and bank-specific analysis, direct Eurasian Development Bank publications or reports would need to be consulted.
The growth in Belarus's foreign exchange reserves, which surged beyond $8 billion in 2021, can be attributed to a series of positive economic developments. Although the Eurasian Development Bank did not provide specific details about the 2021 increase, the banking organization has acknowledged the significant financial improvement in Belarus's economic situation.
