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Opinions & Interviews

27 Mar 2019

Belarus parliament in favor of continued liberalization of business regulations

Belarus parliament in favor of continued liberalization of business regulations

MINSK, 27 March (BelTA) – It is necessary to continue forming more predictable conditions for doing business and further reduce inflation expectations. Chairman of the House of Representatives of the National Assembly of Belarus Vladimir Andreichenko made the statement as top officials of the National Bank of the Republic of Belarus (NBRB) met with members of the parliament in the lower chamber of the Belarusian parliament on 27 March, BelTA has learned.

The head of the lower chamber of the Belarusian parliament said: “We should continue working to form more predictable conditions for doing business and further reduce inflation expectations.”

In his words, the lower chamber of the Belarusian parliament has always practiced a responsible attitude towards improving Belarusian laws on the financial and credit system. Last year’s amendments to the Banking Code focused on protecting interests of citizens as consumers of financial services, on improving interaction between the central bank and commercial banks and non-banking credit and finance organizations. The amendments also endeavored to improve the establishment and shutdown of banks, resolve problems arising from the revoking of bank licenses.

At present the Belarusian currency market experiences no drastic changes of currency exchange rates. Interest rates continue falling. The banking system operates steadily. Inflation is even below forecast figures. “Nevertheless, the large-scale tasks the country faces require timely detection and prevention of possible risks and threats in this sphere, including at the legislative level,” Vladimir Andreichenko concluded.

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