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11 Jan 2016

Government instructed to prioritize people, manufacturing in its economic policy

MINSK, 11 January (BelTA) – The government should focus on people and manufacturing in its economic policy, Belarus President Alexander Lukashenko said as he heard out a report of First Vice Premier Vasily Matyushevsky on 11 January, BelTA has learned.

The First Vice Premier presented the head of state with the government’s outlook for 2016 taking into account the rapidly changing external macroeconomic conditions as well as mid-term prospects for sustainable economic growth.

Alexander Lukashenko noted that "with all problems and difficulties out there (there will be many more), we need to think about people, manufacturing, development, and get our job done.” The President demanded that the prospects analysis be conducted on a wide scale. It should not be limited to one market and one direction, he noted. "We need to broaden the scope and take a wider look at what is going on. This will be the true analysis,” said Alexander Lukashenko.

As was reported to the President, when preparing its vision of the country’s economic development for 2016, for the medium term, the Government analyzes 12 fundamental factors that influence the development of the economy. This approach is important for Belarus, a country with an open economy, exporting 60-70% of its output.

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