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Opinions & Interviews

15 Nov 2016

Kobyakov: Macroeconomic environment in Belarus stabilized

Kobyakov: Macroeconomic environment in Belarus stabilized

MINSK, 15 November (BelTA) - The Belarusian government has achieved macroeconomic stabilization, Belarus Prime Minister Andrei Kobyakov said at the government meeting, BelTA has learned.

“The main result is that we managed to ensure the current macroeconomic stabilization. Taking into account the external shocks, the government and the National Bank have had to apply stringent measures on fiscal consolidation and balance of payments never using the printing machine,” Andrei Kobyakov said.

In his words, this resulted in reduced directed lending, tougher banks’ requirements to investment projects. “Such measures have restrained the economic growth, affected investment activities and people’s incomes. Although we are down quantitatively, we have been making quality macroeconomic progress,” Andrei Kobyakov added.Kobyakov: Macroeconomic environment in Belarus stabilizedKobyakov: Macroeconomic environment in Belarus stabilized

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