A. Lukashenko notes the stabilization of the economic and financial situation in Belarus

17 May, Minsk /BELTA/. President of Belarus Alexander Lukashenko notes the stabilisation of the economic and financial situation in Belarus. He stated this on 17 May while receiving a report from the Prime Minister of the country Mikhail Myasnikovich, BELTA was informed by the press service of the Head of State. "First of all, I would like to hear from the government (we used to discuss this issue with the Chairman of the Board of the National Bank), how the issues that concern the population are being resolved and will be resolved. The economy and finances are stabilised today. We have achieved what we wanted in foreign trade as well. I think you already have accurate data for the first quarter, and we should think about making our people feel that the economy has stabilised. I mean not only pricing, but we need to look more seriously at important things: housing construction, credit resources, their cost, and so on," said the Head of State. Alexander Lukashenko also touched upon issues related to the upcoming visit to Belarus by President of the Russian Federation Vladimir Putin. "We have agreed with the President of the Russian Federation that he will make his first visit to Belarus on 31 May. Therefore, we need to prepare in all areas, and not only in terms of cooperation with the Russian Federation. We need new directions, new proposals that will allow us to build our policy for the long term. Therefore, we need to look from the perspective of economics and politics. Let there be 3-5 issues that we will work on and that we can offer for the attention and consideration of the Russian Federation," the President noted. Another topic that Alexander Lukashenko focused on was the implementation of state programmes. The Head of State was interested in how the construction of the most significant facilities was progressing, and what steps were being taken to develop cotton, flax, and worsted enterprises. "We really need to make a breakthrough in these areas, and then we can say that our light industry, figuratively speaking, has come to life," the President believes. The Head of State was informed about the current state of the economy, its performance results for 4 months, those problematic enterprises for which the President had given special instructions, and the ways to resolve them.

As reported by the Prime Minister, the first four months of the economy's operation demonstrate positive results. The extensive work carried out on the instructions of the Head of State for import substitution is also yielding good effects, primarily in terms of the growth of a positive trade balance. Regarding housing policy, a nationwide discussion of the further development strategy in this area in Belarus has been proposed. According to the Prime Minister, over 200 various proposals have been received, the majority of which are aimed at expanding benefits for housing construction. The President has instructed that these issues be reviewed by the government by the end of May and reported for a subsequent meeting with the Head of State and the adoption of a final decision. In addition, the Head of State was thoroughly informed about the construction and modernization of dairy farms. The government, utilizing, among other things, the capabilities of the Development Bank, has secured an additional Br1.2 trillion in preferential credit resources, on top of the Br2.1 trillion, which are allocated for the financing of the construction and modernization of dairy farms. The President strictly demanded the establishment of order and the conduct of systematic work on the modernization of dairy farms, to prevent reports on previously constructed facilities from being presented as modernization reports. At the same time, modernization must encompass the entire complex of works, affecting both the material and technical base, as well as the implementation and adherence to modern technologies for the proper operation of these farms in the future. The issue of implementing investment projects in Belarus was separately addressed. According to the Prime Minister, numerous interesting proposals from Turkish business circles are currently being processed. They are showing increased interest in the construction of a number of facilities in Belarus, both in the sphere of hotel services and social purposes, as well as in the construction of sports and industrial facilities. The President has been informed about the implementation of investment projects at problematic enterprises, particularly in the light industry. Currently, work on the credit agreement for OJSC "Kamvol" has been practically completed. Its terms are quite favorable for the Belarusian side. The loan amount will be 136 million euros, which will allow not only for the capital modernization of this enterprise but also for a significant increase in production volumes. For example, it is planned to produce up to 4 million linear meters of fabric per year, which will significantly exceed the enterprise's current capabilities.

The next enterprise to be upgraded with investment attraction will be Baranovichi Cotton Production Amalgamation. The supervision of this enterprise, as well as other problematic facilities, is carried out by the Council of Ministers leadership and ministers, by the decision of the President.

BELTA