Kobyakov: The economy must be balanced and allow for the implementation of five-year priorities

August 3, Minsk / Yulia Ogneva - BELTA/. The economy of Belarus must be balanced and allow for the implementation of development priorities for the current five-year period, stated Prime Minister Andrei Kobyakov at a meeting of the Presidium of the Council of Ministers "On the draft forecast of socio-economic development for 2017 and the parameters of key indicators for 2018-2019, the main directions of monetary policy of the Republic of Belarus and the republican budget for 2017", according to a BELTA correspondent.

"We must have a balanced economy that allows for the implementation of development priorities for the current five-year period, enshrined in the main provisions of the five-year program, which were approved at the fifth All-Belarusian People's Congress. The main priority is the balance of the balance of payments and the budget, and inflation reduction. All economic policy instruments should be focused on this," noted Andrei Kobyakov.

According to him, the tasks of socio-economic development of Belarus are closely linked with the draft budget and the main directions of monetary policy. "At the end of June, just a week after the fifth All-Belarusian People's Congress, we thoroughly reviewed the conceptual framework of the forecast and financial policy, and determined the principal approaches to economic forecasting and budget formation," the Prime Minister recalled. Taking into account the discussions and received proposals, a package of documents has been developed and submitted for the Presidium's consideration: two draft decrees - "On the tasks of socio-economic development of the Republic of Belarus for 2017" and "On the main directions of monetary policy of the Republic of Belarus for 2017", and two draft laws - "On the republican budget for 2017" and "On amendments and additions to the Tax Code of the Republic of Belarus".

Andrei Kobyakov set the task for the target parameters of economic development to correspond to the target tasks of the five-year period. "We must guarantee the fulfillment of Belarus's external obligations without reducing gold and foreign exchange reserves. The state debt repayment in 2017 will amount to approximately $3.2 billion, including interest," he stated.

The Prime Minister emphasized the need to enhance the economy's competitiveness, and above all exports, by reducing costs, improving quality, and lessening the economy's dependence on external conditions and raw material markets. "We must derive the maximum possible return from the basic, so-called traditional, economy and the public sector. The tasks for the heads of state bodies in this area have been defined by the government at a meeting of the Presidium held in June. Our diplomats are also involved in their implementation," said Andrei Kobyakov.

Measures to create conditions for the formation of a new economy must also be implemented. "This means creating new enterprises and industries in the private and public sectors, mastering innovative technologies and producing innovative products with high added value, and involving private and foreign capital in this process. Based on such an economy, by the end of the five-year period, it is planned to achieve up to 75% of the total GDP growth. This is also envisaged in the Government's Programme of Activity for 2016-2020," the Prime Minister explained.-0-

News of Belarus (BELTA)