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20 Feb 2015

Belarus approves government action program for 2015

MINSK, 20 February (BelTA) – The government action program for 2015 has been approved in Belarus. The document was formalized by Council of Ministers’ Resolution No. 110 as of 18 February, BelTA has learned.

The document consists of seven chapters and covers all areas of responsibility of the Belarusian government. Each chapter specifies objectives, tasks, implementation mechanisms and people responsible for the execution of the program. Several chapters are dedicated to the regional policy, human potential and economic security of the country.

The major objective of the government this year is maintaining macroeconomic and social stability amidst increasing external challenges and threats, the efficient completion of the current five-year period, laying groundwork for the dynamic economic growth in 2016-2020 and in the long-term perspective. The most important objectives include conducting an efficient macroeconomic and monetary policy, upgrade of the economic regulation system, promotion of competition, small and medium-sized enterprises, expansion and diversification of export, consistent development of integration within the framework of the Eurasian Economic Union, elaboration of the country’s social and economic development program for 2016-2020.

The government and the National Bank have drafted several potential economic scenarios for 2015 depending on oil prices and the exchange rate of the Russian ruble. These are the most unpredictable factors having the impact on the macroeconomic situation in Belarus. Response action and economic balancing measures have been elaborated for each of the scenarios.

The action program allows for direct implementation; thus, no additional plans have to be developed to implement it.

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