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PM: Belarus’ GDP is projected to increase by 4.1% in 2025

MINSK, 31 July (BelTA) – In 2025 Belarus’ GDP is projected to increase by 4.1%, the inflation is forecast under 5%, Belarusian Prime Minister Roman Golovchenko said during a meeting of the Presidium of the Council of Ministers in Minsk on 31 July, BelTA has learned..

“We are to examine a package of forecast documents for 2025: the drafts of the social and economic development forecast, monetary policy targets the national budget and amendments to the Tax Code. The year 2025 is the final year in the five-year term. Accordingly, the social and economic development forecast should take into account the targets of the five-year program, meet the requirements of economic security and sustainability of the state and form the conditions for improved welfare of people and development of the country's economy. The forecast documents envisage the most important target parameters of development. The indicators are ambitious, which is justified in the context of ongoing mobilization of the economy. The government and the National Bank are responsible for such targets as the growth of gross domestic product, increase in real incomes of the population, fixed capital investment, export of goods and services, the inflation rate within certain range,” Roman Golovchenko said.

According to him, the draft documents provide for the growth of real incomes by 4%, real wages - by 4.7%. “The economic growth is projected at 4.1% next year. To achieve this target, the drafts envisage active investment development (7.8%), growth of exports of goods and services (5.4%) and control over inflation (no more than 5%),” the prime minister said.

“The budget is based on the forecast parameters. The revenue part of the budget is planned with a slight increase of 7.8% and expected revenues of Br45.5 billion. At the same time, the budget is expected to run a deficit. This creates certain risks of balanced financing of the most important public expenditures, as well as providing the main subjects of the economy with the necessary resources. I ask the finance minister to report on these issues and on ways of providing financial support for investment, exports, construction complex, development of facilities in agriculture,” the head of government added.

As for the Tax Code, it is important to preserve the conditions for economic growth, while excluding an excessive burden on the real sector of the economy, Roman Golovchenko noted.

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