Belarus’ social, economic development tasks for 2019 approved

Source: President of the Republic of Belarus

20 December 2018

Belarus President Alexander Lukashenko has signed decree No.483 on the country’s social and economic development tasks for the year 2019.In line with the decree in 2019 social and economic development is supposed to secure economic growth in Belarus above the world’s average. Living standards of the Belarusian nation are expected to grow higher thanks to that.A number of key indicators to evaluate performance of the Belarusian government in 2019 are stipulated. The growth rate of the gross domestic product has been set at 104%, the export of merchandise and services – 105.4%, real disposable cash income of individuals – 103.4%.Inflation is the key indicator for the National Bank of the Republic of Belarus. Inflation is not supposed to go over 5% in 2019.In order to secure sustainable growth in the long run the head of state formulated additional tasks concerning social and economic development for the entire power vertical. Belarusian civil servants are encouraged to submit proposals on ways to raise the potential gross domestic product and create additional sources for its growth. The instructions also cover the pursuance of a systemic regional policy with a view to equalizing the development of territories, negating differences in living standards and quality of life between oblasts and districts, and creating new high-performance jobs primarily in the regions. The instructions also cover efforts to fix macroeconomic misbalance, prevent “overhanging” debts from growing. Effective measures will have to be taken to improve the financial status of troubled companies. Salaries will be raised further depending on the matching growth of labor productivity.The central government has been instructed to submit proposals on adjusting the performance targets taking into account evolving foreign economic conditions.

MIL OSI