Meeting with Prime Minister Andrei Kobyakov, NBRB Chairman of Board Pavel Kallaur

MIL OSI – Source: President of the Republic of Belarus – Press Release/Statement

Headline: Meeting with Prime Minister Andrei Kobyakov, NBRB Chairman of Board Pavel Kallaur

23 August 2016

The situation in Belarus’ economy was discussed at the
meeting of Belarus President Alexander Lukashenko with Prime Minister Andrei Kobyakov and NBRB Chairman of the
Board Pavel Kallaur.The head of state was informed about the progress in the social and
economic development in 2016, the situation on the foreign exchange
market.Belarus’ cooperation with
international financial organizations in concrete fields was also on the agenda.
For example, the sides discussed the project to renovate the Minsk-Grodno
motorway which is implemented jointly with the World Bank. “We must do our best
to continue this cooperation. This cooperation is very important for us,
especially in this period,” the President noted.“We have already announced that only one out of seven parameters,
outlined by the head of state, was met. This one, however, is an important one.
It is the inflation rate. We are already back to the normal operation and
believe that the inflation will not exceed 12% by the end of the year,” Andrei
Kobyakov said.As for other parameters,
Andrei Kobyakov stressed that the majority of them saw improvement. “We are
gradually moving towards the economic recovery,” noted Andrei Kobyakov.The President was briefed on the situation on
foreign markets, the import-export proportion and the country’s balance of
payment. The meeting highlighted the issues related to the operation of problem
state enterprises, and the implementation of measures to reduce
cross-subsidizing in the housing and utilities sector.“This year we have faced the new challenges such as the
contraction of export in price terms, first of all, across such commodity groups
as oil products and potassium. The government, the National Bank, and the
banking sector have joined efforts to take corresponding measures to stabilize
the situation on the foreign exchange market. The situation looks to remain
stable till the end of the year,” Pavel Kallaur said.Alexander Lukashenko urged the government and the National
Bank to do their best to continue providing sufficient financial support to the
real production sector.The head of state
agreed to the government’s proposal to introduce cashless subsidies in Belarus
on 1 October to help pay the rent and utility bills. The corresponding draft
decree was submitted to Alexander Lukashenko. This kind of support will be
granted to families, whose utility bills exceed a certain percentage of their
income, in particular, 20% for urban Belarusians and 15% for rural Belarusians,
Andrei Kobyakov explained.