Opinions & Interviews

MINSK, 2 November (BelTA) – The Belarusian economy growth trend should be perpetuated taking into account the improving global macro environment, BelTA learned from Alexander Zaborovsky, Chief Advisor to the Chairman of the Board of the National Bank of the Republic of Belarus (NBRB), on the sidelines of the KEF 2017 conference Foundations of the Future on 2 November.

The official said: “This year the IMF and the World Bank have twice revised the world GDP growth rate upwards for the first time in many years. Not by much but upwards. In other words, we see certain optimism with regard to global growth. We are going to discuss how stable this trend is, how much Belarus can rely on it. Today, while analyzing the global experience and the current trends, we will endeavor to discuss the recipes, which should be used as part of the economic policy in order to secure our position in the new improving macro environment.”

Alexander Zaborovsky stressed that the GDP growth rate depends on labor productivity. “It is very important to secure economic growth via higher labor productivity in conditions of the complicated demographic situation. Productivity and effectiveness go beyond the notions of better machine tools and better technologies. They encompass a bunch of things, including administration, the creation of the relevant environment, and other matters,” said the chief advisor to the NBRB chairman of the board.