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11 Nov 2014

Lukashenko: Belarus’ economy up in January-September, monetary and fiscal balance in place

MINSK, 11 November (BelTA) – In January-September the Belarusian economy and its major branches expanded. The monetary and fiscal balance were in place, Belarus President Alexander Lukashenko said as he heard out a report of the government and the National Bank of Belarus’ economic performance in 2014 and the forecast for 2015, BelTA has learned.

“There is gradual recovery in the manufacturing sector, if a 1.2% increase can be called a recovery. About 500 new industrial companies were established, more than 7,000 jobs were created. Fixed capital investments totaled $15 billion. They accounted for 28% of the gross domestic product,” the head of state said.

According to the President, the surplus of foreign trade in goods and services made up $660 million, which is a big improvement over the same period in 2013.

The head of state said that the payments on the national debt are made on time. Some $4.5 billion were allocated for these purposes in 201.

Alexander Lukashenko praised the efforts to ensure budget discipline, timely performance of the obligations on the payment of salaries and pensions, other social and preferential payments. “The incomes of the population went up by almost Br60 trillion, a half of these incomes were deposited in Belarusian banks. It means that the wellbeing of our people and the trust in the banking system are increasing,” the President said.

“This is a good trend. However, I want to remind all those present at the meeting that back in the day the government, the National Bank and local authorities assumed obligations to fulfill a number of important parameters of the social and economic development. They determined those parameters themselves. By the way, the requirements were not too high,” the head of state noted. He reminded that the situation with the non-fulfillment of these obligations was discussed at the special session of the Security Council in summer. Participants of that session came up with a number of concrete measures which shall be applied by the end of the year. According to Alexander Lukashenko, it is time to determine whether the measures of the government and the National Bank were effective, whether local authorities did everything they could to hit the target.

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