Commentary to Decree No. 504 of 18 December 2015

    On 18 December Belarus President Aleksandr Lukashenko signed decree No. 504 “Concerning the priorities of the social and economic development of the Republic of Belarus for 2016”.

    The head of state approved key indicators of efficiency of the Belarusian government and the National Bank which are the main parameters of the 2016 social and economic development guidelines. One of them reads that it is needed to ensure growth over the year 2015:

    the gross domestic product should soar by at least 0.3%;
    the labor productivity - by at least 1.5%;
    the export of goods and services - by at least 3.5%;
    the real disposable income of the population – by at least 0.5%.

    The Council of Ministers has been instructed to determine key parameters of efficiency of work of heads of ministries, concern companies, oblast executive committees and the Minsk City Hall, state-run organizations and organizations at least 50% of the shares of which belong to the state, except for micro-organizations and organizations with the participation of the foreign capital. Organizations should not get other parameters and the parameters that are not envisaged in the decree.

    The Council of Ministers has been instructed to make sure that the organizations will prepare detailed plans of action regarding the reduction of costs for the manufacture of goods (works, services) in 2016 by 1 March 2016.

    The press release of the press service reads that the measures to ensure macroeconomic stability will help reduce the impact of the negative foreign economic situation and ensure the sustainable economic development of Belarus.