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Opinions & Interviews

9 Nov 2017

Belarusian MPs promise to take into account IMF mission findings in further legislative work

Belarusian MPs promise to take into account IMF mission findings in further legislative work

MINSK, 9 November (BelTA) - Belarusian MPs will take into account the IMF mission findings in their further legislative work, Vladislav Shchepov, the chairman of the permanent commission on economic policy of the House of Representatives, told the media, BelTA has learned.

According to Vladislav Shchepov, the MPs will take into account the IMF mission findings in the future work, including the preparation of a plan of legislative activities for 2018-2019.

The MP recalled that the IMF mission has placed special emphasis on macroeconomic stabilization, monetary and fiscal policy, labor relations and social security and re-organization of industrial state-owned enterprises. These are the issues that we discuss in the Parliament as we draft new laws. So we have a common ground,” Vladislav Shchepov said.

The House of Representatives hosted a meeting between MPs and the IMF mission. IMF mission chief for Belarus Peter Dohlman noted, among other things, that the government had to take a number of difficult decisions, including the measures to toughen the fiscal policy and to ensure the further liberalization of consumer prices. “As a result, we again see an increase in consumption and investment, a stable exchange rate, and a record low inflation rate. Over a period of time, we witnessed a disturbing decline in deposits. But thanks to the efforts of the government and the National Bank we now see their growth, especially in national currency. And this is, again, a sign of confidence in those decisions that were taken,” he said.

The head of the mission also welcomed the steps to create a more favorable business environment.

The IMF mission is in Belarus from 26 October to 10 November to discuss the country’s economic situation and the preparations for the annual consultations under Article IV.

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