The growth rate of Belarus’ gross domestic product is expected to reach 101.5% in 2017 while inflation is supposed to make 9% at most. Prime Minister of Belarus Andrei Kobyakov made the statement during the session of the Presidium of the Council of Ministers held on 2 August to discuss the draft social and economic development forecast, the draft major monetary management guidelines, and the draft central state budget for 2017.
“The suggested draft presidential decree on Belarus’ social and economic development tasks for 2017 has preserved a system of key parameters to judge the performance of the government and the National Bank. The key indicators are the gross domestic product (101.5%), real disposable cash income of the population (101.2%), labor productivity in the gross domestic product (101.6%), export of merchandise and services (103.6%), surplus of foreign trade in merchandise and services (plus 0.2% to the GDP or slightly more than $100 million), and foreign direct investments in net terms ($1.4 billion without taking into account money owed to the investor for goods, work, services). It will also be necessary to hit one-digit inflation parameters – 9%”, noted Andrei Kobyakov.
The developed package of documents suggests keeping the overall system of tasks and key performance indicators for ministries, concerns, and enterprises.
“Quality parameters and export will be in focus. The most important parameters of the social and economic development forecast should be secured, provided oil costs $45 per barrel, the economy of Russia – our key trade partner – grows by 1% in comparison with 2016, and the $ costs 70 RUB”, stated Andrei Kobyakov. (BelTA/Business World Magazine)