Business news

MINSK, 16 January (BelTA) – Belarus’ GDP grew by 2.4% in 2017. Prime Minister of Belarus Andrei Kobyakov quoted the figure during the session of the Presidium of the Council of Ministers on 16 January, BelTA has learned. The session was focused on measures to implement Belarus’ social and economic development tasks and on the national economy’s expected performance in January and in Q1 2018.

Andrei Kobyakov stated that the GDP growth rate was 102.4% in 2017 while the forecast was 101.7%. Thus, the government managed to reach the economic growth parameters specified by the five-year program and compensated for the lag of 2016. The head of state has approved development forecast parameters for 2018. The relevant government resolutions have been passed after that to set up a matrix of key parameters for the entire power vertical, noted the prime minister.

Andrei Kobyakov stressed: “The key tasks of balanced economy growth is increasing and diversifying export, raising investments, and creating jobs primarily in the small and medium business sector.” With these in mind it is necessary to begin full-scale work to implement the decisions made by the head of state with a view to liberalizing business operation terms.