Proceeding from the fact that the course is unchangeable

Session discussing the enhanced efficiency of socio-economic sphere tackles concrete mechanisms of influencing the situation


Recently, the President of Belarus conducted a session dedicated to acute issues of economic development, inspired by parameters used by developers of major financial documents differing from those originally used as an orienting point.

Oil has dropped below the expected level, and the US Dollar has risen in value against the Russian Rouble. Accordingly, the Belarusian Rouble is affected, as is our economic situation. The President has asked the Government to elaborate new measures to enhance the efficiency of economic management and to overcome negative trends, resulting in proposals for discussion.

Mr. Lukashenko asked participants of the session to ponder certain key issues, with export figures as a focus. Production and sale are vital to our economic security, yet markets are shrinking worldwide and prices falling. Accordingly, we need to reduce production costs by at least 25 percent, while protecting our domestic market. Imports prevail across a range of positions, even where Belarus manufactures goods itself. However, domestic production does go some way to balancing imports.

The attraction of investments is another way to stabilise the situation, with incoming capital helping support some small and medium-sized businesses. Conditions in this segment are rather favourable. Meanwhile, the state needs to concentrate on prompt implementation of major projects. Mr. Lukashenko named Belarusian-Chinese joint production of feedstuffs as an example of good co-operation, being worth $2bn of Chinese credit. China is offering ensured sale of all goods, which is an ideal situation. In its efficiency this area can be quite compared with all small businesses which shouldn’t be put obstacles for further development and growth.

Jobs are also vital, since most people can and wish to work. We need to provide adequate opportunities.

During recent meetings between Alexander Lukashenko and Vladimir Putin and Dmitry Medvedev, an agreement was reached for Russia to support Belarus, in the line with the position of the Eurasian Development Bank. Our dialogue with the International Monetary Fund is also developing constructively. The President notes the EU’s positive decision to abolish sanctions and suggests that Belarus’ Foreign Minister, Vladimir Makei, thank his European colleagues for taking this sensible step. Yes, the Eurasian Development Bank and the International Monetary Fund have recommendations regarding the Belarusian economy, but these don’t contradict common sense. Our country is gradually mastering innovations offered from outside. However, we should think about this support as an additional, optional resource. We need to primarily orient towards our own powers and, in this respect, the President has claims upon heads of industry at various levels. Some lack the ability to move with the times, or the courage to take decisions. If they cannot rise to their professional challenges, they should move aside to make room for new specialists. He also criticises those within the Government who wish to make radical reforms, which contradict the path promised to the electorate before elections. These promises are a pillar the Government has no right to topple in planning economic and social policy.

There’s no need to stir unnecessary panic by speaking of ‘economic crisis’. While the situation is difficult, there are prospects, with the private sector’s conditions having improved since last autumn. It will take time to see results so we must be pragmatic, continuing to work for the benefit of the country and people. 

This thought, expressed by the President at the session tackling the enhancement of efficiency of the socio-economic complex, should be viewed as a top priority.