Proposals for adjusting the Programme of Socio-Economic Development of Belarus for 2016-2020 will be prepared in January. This was stated by the Minister of Economy, Vladimir Zinovsky, on the air of the Belarus 1 TV channel, according to BELTA.
Proposals for adjusting the Programme of Socio-Economic Development of Belarus for 2016-2020 will be prepared in January. This was stated by the Minister of Economy, Vladimir Zinovsky, on the air of the Belarus 1 TV channel, according to BELTA.
Vladimir Zinovsky noted: "Understanding that 2016 will be a very challenging year, we will also make some adjustments to the entire five-year plan. I think within a week, perhaps a little later, but at least in January, we will submit our proposals to the Head of State for consideration."
At the same time, the minister drew attention to the social orientation of the programme, assuring that even if subsidies for the real sector of the economy are reduced, areas such as education and healthcare will not suffer, and social protection for low-income citizens and pensioners will be maintained. "We are working with 20 state programmes to align them with the five-year plan. We have worked out approximately 70 supply and demand balances for goods and product groups and can see how the economy will develop," he said.
Speaking about inflation for 2016, Vladimir Zinovsky reported that it will not exceed 17-18%. "We are ready for certain transformations, for supporting our enterprises, but nevertheless, we are tied to the economies of our neighbours, including the Russian Federation," he stated.
"If a barrel of oil currently costs almost $30 and the Russian ruble exchange rate is over 75 to the dollar, then we understand that the inflation that was forecast at different exchange rates for 2016 is unlikely to materialise. As of today, we can say that inflation will be a two-digit figure. Whether it will be 14% or 15% is difficult to say yet. We are doing certain calculations. But I think it will not exceed 17-18%. The Government, together with the National Bank, is working in this direction," added the Minister of Economy.