Events

MINSK, 14 October (BelTA) – Belarus will discuss a plan of structural reforms with international financial organizations, Deputy Economy Minister Dmitry Golukhov told media on 14 October as he commented on the joint action plan of the Government and the National Bank of the Republic of Belarus (NBRB) on structural reforms and enhancement of the country’s economic competitiveness approved on 10 October, BelTA has learnt.

This week there are plans for a number of consultations with representatives of the EU, the European Commission, the World Bank and other international financial organizations to discuss the plan of structural reforms in the country.

The document has already been presented to the International Monetary Fund during the visit of a high-level delegation as part of the annual meeting of the Boards of Governors of the World Bank and the International Monetary Fund that was held on 11-13 October.

According to Dmitry Golukhov, the joint Government-NBRB action plan covers several horizons and envisages measures for long, mid and long-term perspectives. Its major goal is to form a basis for enhancing efficiency and economic competitiveness of the country.

According to the Deputy Minister, a number of laws have been drafted for introducing reforms. “We are ready to present draft laws on state indicative planning, public-private partnership and antimonopoly regulation by the end of the year,” Dmitry Golukhov said.

In his words, reforms, on the whole, are aimed at enhancing efficiency of resources allocation, improving the access to resources (first of all, new sectors, small and medium-sized business). Enhancement of efficiency of the public sector makes up a big part of the joint document. The plan envisages the development of a state property management concept, definition of an optimal share of the public sector.

“We need to define the role of the state in the economy, parameters we place before state-run companies. We also should determine an incentive program for managers and build up a transparent corporate management system meeting the world’s best standards,” the official said.

Besides, according to the Deputy Minister, the plan envisages actions aimed at enhancing efficiency of the private sector as well as safeguard measures which “will protect from any slightest worsening of living standards of the population during the implementation of structural reforms”.

“The implementation of the events will help us come onto a trajectory of the sustainable balanced growth,” Dmitry Golukhov noted. The efforts will help create “a rather solid foundation for maximizing the efficient use of resources the country possesses and create favorable conditions for attracting external financing for economic development,” he added.