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21 Jul 2020

Belarus prime minister: Time to move on to matters of strategic development

Belarus prime minister: Time to move on to matters of strategic development
Roman Golovchenko

MINSK, 21 July (BelTA) – The economic situation is stabilized for the most part, it is time to move on to matters of strategic development, BelTA learned from Prime Minister of Belarus Roman Golovchenko at a session of the Council of Ministers’ Presidium on 21 July.

Roman Golovchenko noted: “Today we discuss forecast documents for the short term and the long term, the main guidelines of the country’s development in the period till 2025, a draft [social and economic development] forecast and a draft budget for 2021. The development of these documents this year has its own peculiarities due to the strong uncertainty about results of the world economy’s recovery from the pandemic-induced crisis. At present the situation is stabilized for the most part. Measures designed to minimize the impact of the pandemic on the Belarusian economy have produced their results.”

In his words, the manufacturing industry is gradually recovering as well as the transport industry, the trade industry while the labor market situation is manageable.

“It is time to move on from short-term measures to matters of strategic development. Let me remind you that the head of state wants forecast documents prepared by 1 November 2020,” the prime minister pointed out.

The head of government stressed: “The main guidelines on social and economic development represent virtually an annotation of the future program for the next five-year plan. To reach the gross domestic product of $100 billion in 2025 is the goal. We need a set of tools, which everyone can understand and which allows ensuring structural changes in economic relations and stimulates the relevant growth,” the prime minister stressed.

Roman Golovchenko noted that it is necessary to understand under what conditions the planned economic growth can be secured, including by resolving problems of the ineffectively operating public sector, by bolstering the role of private sector companies and by improving employment effectiveness. Apart from that, people and executives should be able to understand the program for the next five-year plan.

The prime minister believes: “The specified brand new approaches should reflect a new quality of development of the country in different macroeconomic conditions, more ambitious strategic goals.”

In his opinion, it is necessary to clarify what resources can be used to ensure the declared pace of economic growth till 2025 taking into account the low level of development of industry-wise development programs by government agencies.

It has been suggested that the development of the regions through new manufacturing enterprises and investments should become a priority for the next five-year plan. Roman Golovchenko believes it is the right direction to follow, at the same time it is necessary to put more efforts into the improvement of social standards.

Speaking about the tariff policy, the prime minister reminded that the phasing out of cross-subsidizing was one of the goals to be achieved during the current five-year term. “But the goal has not been reached due to objective economic reasons. The goal is still on the agenda, it needs to be addressed,” he stated.

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