Opinions & Interviews

MINSK, 21 November (BelTA) – Belarus’ forecast of social and economic development for 2018 should be realistic but very ambitious, Belarus President Alexander Lukashenko said as he heard out a report of the government, National Bank, oblast executive committees, and the Minsk City Hall on the economic performance in 2017 and the draft social and economic development forecast for 2018, BelTA has learned.

“I expect an active discussion on topical issues and proposals on the key areas of the life of the country. The forecast should be realistic but very ambitious,” Alexander Lukashenko said addressing the participants of the event.

According to the National Bank, this year the country will have the lowest ever rate of inflation. “6% in 2017 is very good. However, the 2018 forecast has it at 7%. What are the reasons for that? We are talking about the inflationary expectations but at the same time we encourage them,” Alexander Lukashenko noted.

The president is concerned over the situation in the field of investments. “I have been informed that next year the investments are projected at the level of 65% as against 2011. This is not enough to maintain the competitiveness of the economy. If there is no our own capital we must seek and attract investors. By the way, there are investors, there are affordable loans. But surprisingly there are no projects,” the head of state noted.

Alexander Lukashenko stressed that the budget should serve the goals of the social policy. “Why is the budget turned into a crutch for the struggling enterprises? The flow of such proposals from the government does not stop. The problem of debts in the real sector is alarming. The share of troubled assets is high. What is the position of the government and the National Bank on this? Or will these problems once again be addressed with the help of the country’s budget? Most of the measures that have been taken so far are cosmetic. We need system solutions," the President said.