Seventh special session of Council of Republic of Belarus’ National Assembly

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On 16 January President of the Republic of Belarus Aleksandr Lukashenko took part in the seventh special session of the Council of the Republic of the National Assembly of Belarus and introduced the new chairman of the board of the National Bank.

Aleksandr Lukashenko reminded that at the end of the previous year he made a number of new appointments in the government, the Belarus President Administration, the banking sector, regional administrations. “I did not dismiss or replace any person without his consent. When we discussed this work, these issues, virtually all of them said that they were ready to work for the state. They said that they were ready to back young executives,” the head of state said.

The President said that he will make more new appointments in 2015.

Aleksandr Lukashenko noted that he supports the decision of Anatoly Rubinov to resign as the chairman of the Council of the Republic and the appointment of Mikhail Myasnikovich.

The head of state officially thanked Anatoly Rubinov for productive work and responsible attitude to his duties.

The head of state stressed that under the leadership of Anatoly Rubinov the Council of the Republic has done a lot. In his opinion, the MPs always thoroughly analyzed draft laws to make sure that the laws will be efficient. From the beginning of this season the MPs have considered over 240 draft bills. All of them are aimed at regulating important spheres in the state. “Laws you pass lay a foundation both for the present and the future of the society and the state,” Aleksandr Lukashenko stressed. “You should see the prospects rather than just live in the moment. You should provide a timely response to different social issues, address the emerging problems in a legal manner. You, as experienced people, should feel the pulse of the real life,” the head of state added.

At the same time, Aleksandr Lukashenko believes that the MPs still have untapped reserves. According to the President, the MPs need to improve the work with people.

“As practice shows, there are shortcomings in this field, namely red tape, readdressing of appeals, sometimes civil servants are unwilling to see into the problem situations,” Aleksandr Lukashenko said. “However, we should not forget that Belarus is the state for the people. Careful attitude to a person at all level of public administration is the top priority for civil servants.”

The President emphasized: “I would like you to strictly observe the legislation, to eradicate red tape, formalism and indifference to people. The MPs should do their best to prevent such issues.”

The head of state said that the members of the Council of the Republic should more closely cooperate with the regions and local authorities. "Deputies and senators must become true friends of the governors and executives of the companies, must ensure the efficient use of production facilities and raw materials,” said Aleksandr Lukashenko. MPs need to lead by their own example: demonstrate a good-faith attitude to what they do, and deal with mismanagement or negligence.

The President believes it is necessary to give a new impetus to the cooperation between the Council of the Republic and local self-government bodies. "But this activity should not be directed at lobbying some private, departmental or local interests but pursuing the national approaches. Keep the pulse on the situation in regions, regularly communicate with voters. Look for sensible initiatives from below and raise them to the appropriate level. Offer solutions to the existing problems, and, of course, pursue more actively the government decisions in your constituencies.”

According to the President, MPs of all levels make up a personnel pool. “We should take notice of honest and well-qualified people and recommend them to higher posts. Such practice has already taken root and it should be continued,” the head of state believes.

The President noted that senators should do their best to advance and protect the interests of the country in the international arena. Development of cooperation and parliamentary relations should be aimed at attracting investment and strengthening the image of Belarus worldwide.

According to the head of state, the Eurasian Economic Union and Belarus’ chairmanship provide a huge space for MPs’ diversified activity. We should make the maximum use of these favorable opportunities, Aleksandr Lukashenko is convinced. In his words, the pace of work in the Union State should not be reduced.

“The parliamentary cooperation should be continued and go far beyond the Russian Federation. The multi-vector principle in te foreign policy remains a priority,” the head of state stressed.

According to the President, today the most important task is to secure sustainable and balanced economic development. In his words, the National Bank and the banking system should play an important role there.

“The main objective of the National Bank is to reduced inflation. It is also essential to promote public trust in the national currency,” the President stressed. The head of state emphasized that certain steps had already been taken. “All future decisions of the central bank should be more understandable and predictable for people and business,” Aleksandr Lukashenko said.

According to the President, today the most important task is to secure sustainable and balanced economic development.

According to the President, the country’s international reserves should be increased not only through loans but also by means of increasing the export of Belarusian goods and attracting foreign direct investment.

"The banking sector should aim for fair competition. This is the task of the National Bank. As a regulator, it must monitor the quality of the banks’ services and control them. Please remember the banks’ revenues depend on clients - people and enterprises. You just cannot lose their trust!” the President stressed.

According to Aleksandr Lukashenko, it is important to increase the efficiency of the allocation of financial resources in the economy. The President stressed that bank loans should be used primarily to finance most viable projects: "If you see that a business project is not going to pay off, do not issue credits!"

"Banks should not take on excessive risks. You should move away from the principle to help everyone. Such action might leave everybody affected. Therefore, the banking supervision for bad assets should be strengthened," the head of state emphasized.

Aleksandr Lukashenko also focused on the development of the financial market.

“The financial market is an additional source for enterprises. It is essential to raise financial resources of the population to expand the market. They can invest in shares and bonds. People should have multiple opportunities for investing their savings,” the head of state said.

“God forbid if we repeat what has happened in Russia or Ukraine. Some dishonest people should not use this mechanism to obtain enterprises,” the President warned.

Aleksandr Lukashenko emphasized that the Belarusian financial market should be integrated into the global market. “The companies should raise funds in the country and branch out into international stock exchange markets. The companies should rely on the experience of banks in this field,” the President noted.

"We need to expand the use of cashless payments. They should benefit people, producers and business. Only then they will be really popular,” the President said.

Aleksandr Lukashenko underlined that the National Bank should not limit itself to the traditional payment systems. "You know who they are controlled by. We must use the most advantageous and secure payment options for our country. Therefore look and test different payment systems. We have specialists who can develop appropriate programs,” the President said.

"At the same time, you should be aware that there are a lot of frauds in this segment. Tight control is needed," the head of state added.

Aleksandr Lukashenko believes that the banking sector must constantly evolve offering the latest and best products to the public.

“Today people are highly educated, and active. Especially young people with all these smartphones, tablets and other gadgets. People are ready for banking innovations. You should go ahead with advanced technologies, Internet banking,” the President said.

Aleksandr Lukashenko expects the efficient work from the new head of the National Bank and also the initiatives that can bring practical results. “You should serve the state and the people. We expect rational and balanced decisions from you, close cooperation with lawmakers and other branches of the government on the most crucial financial issues,” the head of state said. Aleksandr Lukashenko noted that the Chairman of the Board of the National Bank and the Prime Minister are the persons responsible for all the processes in the national economy and finances.