By Olga Anischenko: The President has signed some crucial decrees on socio-economic development and the priorities of monetary policy in the country.
The documents basically contain the forecasts of the country's development. In fact, these are the benchmarks that all sectors must match to ensure the efficiency of their work, and ultimately the welfare of Belarusians.
Among the most important economic indicators, the overall growth of the economy – the GDP – is expected to reach 3.5%. The exports are to increase by almost 6%, and the inflation rate must not exceed 6%.
Special attention is paid to foreign trade. The revival of the Russian economy last year had a noticeable increase in exports for Belarus – 20%. Now, the plans are to increase it by almost 6%. However, for sustainability of the economy, Belarusian products need to enter new markets.
Social agenda traditionally has a place in the priorities of the country’s development. The main task is ensuring employment in the country. Jobs will provide people with decent salaries. But revenue growth should be economically justified.
Special tasks were outlined for the National Bank and its monetary policy in the country. The priorities are price stability, regulation of interest rates, and further de-dollarization of the economy. The adopted documents provide for the growth in savings in the national currency and overall financial stability in the market.
In 2018, expectations of economic growth are also associated with small and medium-sized businesses. After all, the year will be the time when crucial legislation for entrepreneurs, adopted in 2017, comes into force.
