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Opinions & Interviews

28 Mar 2018

Call for nationwide effort to raise Belarus' GDP to $100bn

Call for nationwide effort to raise Belarus' GDP to $100bn

MOGILEV, 28 March (BelTA) – The task to raise Belarus’ GDP to $100 billion requires nationwide effort and relevant legislative support, Speaker of the Council of the Republic Mikhail Myasnikovich told journalists on 28 March during an offsite session of the council’s presidium on 28 March, BelTA informs.

According to Mikhail Myasnikovich, the head of state set a number of very demanding tasks as he heard out a report on the performance of the government in 2017 on 2 March. In particular, Alexander Lukashenko urged to raise the country’s GDP to $100 billion by 2025. “This is an extremely challenging task which requires mobilization at all levels and relevant legislative support. The legal framework should contribute to the goal, too. This will improve the living standards in Belarus,” the speaker remarked.

The adoption of Ordinance No. 7, Ordinance No. 8, and Ordinance No. 1 opens up very good opportunities for the business community and employment. “As for the parliamentary dimension, we need to amend 8 codes, 20 laws, 13 presidential decrees, and 34 resolutions of the Council of Ministers. This will help synchronize and liberalize the legislation and enable comfortable conditions for commercial entities. This is why this session has focused not only on theoretical tasks. We have visited some companies, examined the situation in labor collectives, found out a number of disadvantages, and given relevant recommendations to sort things out,” Mikhail Myasnikovich pointed out.

The Council of the Republic submitted detailed proposals to the government, which are primarily meant to encourage investors. They also concern public-private partnership since there is a law in place, but the existing specific mechanisms are insufficient to carry out joint projects. The senators, for instance, have suggested optimizing and simplifying the Tax Code and the Civil Code which contain many business regulations. “We hope that the government will take these matters into account when making managerial decisions. This will speed up the social and economic development of Belarus,” the speaker summarized.

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