Meeting with Prime Minister Andrei Kobyakov, NBRB Chairman of Board Pavel Kallaur
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The situation in Belarus’ economy was discussed at the
meeting of Belarus President Aleksandr Lukashenko with Prime Minister Andrei Kobyakov and NBRB Chairman of the
Board Pavel Kallaur.
The head of state was informed about the progress in the social and economic development in 2016, the situation on the foreign exchange market.
Belarus’ cooperation with international financial organizations in concrete fields was also on the agenda. For example, the sides discussed the project to renovate the Minsk-Grodno motorway which is implemented jointly with the World Bank. “We must do our best to continue this cooperation. This cooperation is very important for us, especially in this period,” the President noted.
“We have already announced that only one out of seven parameters, outlined by the head of state, was met. This one, however, is an important one. It is the inflation rate. We are already back to the normal operation and believe that the inflation will not exceed 12% by the end of the year,” Andrei Kobyakov said.
As for other parameters, Andrei Kobyakov stressed that the majority of them saw improvement. “We are gradually moving towards the economic recovery,” noted Andrei Kobyakov.
The President was briefed on the situation on foreign markets, the import-export proportion and the country’s balance of payment. The meeting highlighted the issues related to the operation of problem state enterprises, and the implementation of measures to reduce cross-subsidizing in the housing and utilities sector.
“This year we have faced the new challenges such as the contraction of export in price terms, first of all, across such commodity groups as oil products and potassium. The government, the National Bank, and the banking sector have joined efforts to take corresponding measures to stabilize the situation on the foreign exchange market. The situation looks to remain stable till the end of the year,” Pavel Kallaur said.
Aleksandr Lukashenko urged the government and the National Bank to do their best to continue providing sufficient financial support to the real production sector.
The head of state agreed to the government’s proposal to introduce cashless subsidies in Belarus on 1 October to help pay the rent and utility bills. The corresponding draft decree was submitted to Aleksandr Lukashenko. This kind of support will be granted to families, whose utility bills exceed a certain percentage of their income, in particular, 20% for urban Belarusians and 15% for rural Belarusians, Andrei Kobyakov explained.
The head of state was informed about the progress in the social and economic development in 2016, the situation on the foreign exchange market.
Belarus’ cooperation with international financial organizations in concrete fields was also on the agenda. For example, the sides discussed the project to renovate the Minsk-Grodno motorway which is implemented jointly with the World Bank. “We must do our best to continue this cooperation. This cooperation is very important for us, especially in this period,” the President noted.
“We have already announced that only one out of seven parameters, outlined by the head of state, was met. This one, however, is an important one. It is the inflation rate. We are already back to the normal operation and believe that the inflation will not exceed 12% by the end of the year,” Andrei Kobyakov said.
As for other parameters, Andrei Kobyakov stressed that the majority of them saw improvement. “We are gradually moving towards the economic recovery,” noted Andrei Kobyakov.
The President was briefed on the situation on foreign markets, the import-export proportion and the country’s balance of payment. The meeting highlighted the issues related to the operation of problem state enterprises, and the implementation of measures to reduce cross-subsidizing in the housing and utilities sector.
“This year we have faced the new challenges such as the contraction of export in price terms, first of all, across such commodity groups as oil products and potassium. The government, the National Bank, and the banking sector have joined efforts to take corresponding measures to stabilize the situation on the foreign exchange market. The situation looks to remain stable till the end of the year,” Pavel Kallaur said.
Aleksandr Lukashenko urged the government and the National Bank to do their best to continue providing sufficient financial support to the real production sector.
The head of state agreed to the government’s proposal to introduce cashless subsidies in Belarus on 1 October to help pay the rent and utility bills. The corresponding draft decree was submitted to Aleksandr Lukashenko. This kind of support will be granted to families, whose utility bills exceed a certain percentage of their income, in particular, 20% for urban Belarusians and 15% for rural Belarusians, Andrei Kobyakov explained.