Government and National Bank of Belarus present new economic policy program

14 октября 2013
According to experts, this will help balance the budget. Generally, effectiveness and profitability are the major reference points for the next year. The new economic policy was also touched upon at the President's recent press conference. In spite of a friendly and confidential atmosphere of the conversation, ministers received specific targets important for the country's development.
By Andrei Laptenok: Monetary policy will be tightened with budget expenditures reduced. External trade terms of our businesses have changed after Russia's accession to the WTO.

Maxim Ermolovich, Deputy Minister of Finance of the Republic of Belarus


It is noteworthy that the interest rate policy will focus on the growth of deposits in the short run. In general, the Belarusians will be encouraged to save money. The social component of the budget will be retained. Agricultural production and public roads system will also be supported.


Alexander Zaborovski, First Deputy Head of the Council of Ministers of the Republic of Belarus, Head of the Secretariat of the Prime Minister of the Republic of Belarus: After the state budget is optimized, all social expenses including state employees salaries and external and domestic debt obligations will be fully funded. According to our calculations, loan gain will not exceed 9 trillion rubles.


Georgy Grits, Deputy Chairman of the Belarusian Scientific and Industrial Association
Dmitri Golukhov, Deputy Minister of Economy of the Republic of Belarus


Effective domestic market loans are expected to support the budget. Currency bonds will be offered by the Finance Ministry. The EurAsEC Anti-Crisis Fund resources are likely to be attracted. A new program of interaction with the IMF is being discussed. Part of the activities will be implemented later this year; the overall plan has been designed for a midterm period.