Business news

MINSK, 5 April (BelTA) – The Belarus government expects that by 2020 the national GDP growth rate will be higher than the world’s average. Prime Minister of Belarus Andrei Kobyakov made the statement as he presented the government’s action program for 2016-2020 in the Oval Hall on 5 April, BelTA has learned.

“We believe that the effect from the measures we’ve already implemented will allow restoring positive economic dynamics in H2 2016. The entire set of the measures specified by the government’s action program enables conditions for restoring economic growth and reaching a GDP growth rate higher than the global average by 2020,” noted Andrei Kobyakov. In his words, in the rapidly changing conditions the government’s economic policy will be flexible and adaptive to external changes.

The Belarusian head of government underlined that the government intends to fully implement the program and goal-based approach through a set of state programs. Their implementation and progress in reaching key goals will be monitored regularly. Every year by 1 April the government will compile an overall report to cover the fulfillment of the government action program and all the state programs. It will allow comprehensively evaluating results of the national development and making corrective decisions if necessary. Following the relevant proposal of members of the parliament the report will be forwarded to the parliament as part of cooperation between the government and the parliament, said Andrei Kobyakov.

In his words, for the sake of encouraging heads of government agencies a hierarchical system of key performance indicators has been compiled for every member of the central government, every oblast governor, every head of district or city administration. The system also includes government program fulfillment indicators. The fulfillment of the indicators will be monitored on a quarterly basis.

Every year a set of tactical measures will be worked out together with the central bank in order to address social and economic development tasks.