Events

Belarus secures financial stability, macroeconomic balance in 2012

MINSK, 1 March (BelTA) – In 2012 Belarus managed to secure financial stability and macroeconomic balance, Belarus President Alexander Lukashenko said at the session of the Council of Ministers held on 1 March to discuss the social and economic development of the country in 2012 and goals for 2013.

In his words, the country was able to slow down the inflation rate, achieve a trade surplus in foreign trade in goods and services, and reach stability on the domestic currency market. The country maintained its gold and forex reserves at the previous level and fulfilled, timely and in full volume, its obligations on foreign and internal debts. The country secured a good growth rate across most important economic sectors, i.e. industry and agriculture. Belarus harvested a record 9 million tonnes of grain while harvests in the CIS countries sharply reduced.

“A few recent years have been quite difficult due to the global economic recession. There is hardly a country which has not been affected by the crisis. Our country was not an exception. Therefore, we should acknowledge the government’s certain contribution to keeping the Belarusian economy from collapsing,” the head of state noted.

According to opinions surveys, over two thirds of the Belarusians view the current economic, social and political situation in the country as positive. 
 
“Indeed, we managed to consolidate the positive trends in the social sector in 2012,” the President said. Real incomes went up by 21%. Nominal average monthly wage in December 2012 amounted to slightly less than Br5 million ($552), including $418 in the public sector. Alexander Lukashenko drew attention to the fact that in 2012 pensions were increased four times: in February, May, August, and November. In December 2012 pensions averaged almost Br2 million ($ 220). Ruble and currency deposits with banks went up 1.6 times.

“It would seem that not everything is so bad. However, not everything that was planned by the government and approved by the Decree of the President was fulfilled,” Alexander Lukashenko said.

He noted that the Council of Ministers in its current membership has been working for three years now. “This is a good time to make conclusions and give objective assessments,” said the head of state. He also added that he is closely following the work of the government and sees its pluses and minuses.

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