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Commentary to Decree No. 358 of 3 October 2016

Concerning the main priorities of Belarus’ social and economic development in 2017

 Belarus President Alexander Lukashenko signed Decree No. 358 “Concerning the main priorities of Belarus’ social and economic development in 2017”.

The main priorities of the country’s social and economic development in 2017 are the higher national competitiveness and the creation of conditions for the implementation of Belarus’ social and economic development program for 2016-2020.

The document also specified key priorities of Belarus’ social and economic development in 2017. These are the macroeconomic balance, financial recovery of real production sector organizations, development of an efficient employment system, higher labor productivity, creation of new jobs, more efficient state property management, involvement of the inefficiently used state-owned property in the economic turnover, improvement of the investment climate, reduction of the administrative burden on business.

The reduction of inflation to the level of less than 9%, the inflow of $1.4 billion worth of foreign direct investments on a net basis are the keys to preserving macroeconomic stability in 2017.

In 2017, the gross domestic product is projected at the level of 101.7% over 2016.

Plans have been made to ensure a 3.8% growth of export of goods and services from the level of 2016.

The growth rate of labor productivity will make up 101.8% in comparison with the previous year. It will exceed the growth of real wages (101.5%) and real disposable incomes of the population (101.3%).
© 2017, The Press Service of the President of the Republic of Belarus