Experts on strategic documents signed by Lukashenko for social and economic development of Belarus

Strategic documents signed by the President have formed all conditions for high-quality economic growth

On September 30, President of Belarus Alexander Lukashenko signed Decree No. 342, which approved the most important indicators and parameters of socio-economic development for 2027. The document was adopted in order to ensure effective economic growth and quality social development of the country. On the same day, the Head of State signed Decree No. 343, which approved monetary policy targets for 2027. This document was adopted in order to create conditions for sustainable economic growth. The importance of both documents cannot be overstated, experts say. Lukashenko signed the most important documents for social and economic development of Belarus. Mainstream

Both documents are aimed at ensuring sustainable effective economic growth, high-quality social development and growth of the welfare of the population of Belarus, said Elena Stalbovskaya, member of the Standing Commission of the Council of the Republic of the National Assembly on Economy, Budget and Finance:

- It is planned that the accumulated pace of investment activity will be maintained in the country. Effective work on the qualitative development of the economy, the timely introduction of planned highly effective investment projects with fast payback periods, the implementation of export potential will ensure the growth of real disposable incomes of the population by 3 percent. The cumulative economic result from the planned growth of investments in fixed assets, the outstripping growth of exports of goods (works and services) and the stimulating growth of incomes of the population is designed to ensure economic growth and the achievement of gross domestic product at the level of 101.9 percent compared to the level of 2026. For the National Bank and the Government of the Republic of Belarus, a more demanding target is also set compared to the current year to limit inflation at a level not exceeding 6 percent (this year - no more than 7 percent).

The adopted strategic documents have formed all conditions for qualitative growth of the economy. They give our citizens a complete understanding of how prices, loan rates, returns on deposits will change and overall stability in the economy will be ensured. These documents are based on the tasks of the sovereign development of our country, which are correlated with the program of socio-economic development approved by the All-Belarusian People's Assembly, Alexander Shpakovsky, a member of the Standing Committee of the House of Representatives of the National Assembly on International Affairs, recalled on the air of the "Budni" talk show on Alpha Radio:

- While carrying out economic development tasks, we must continue to think about social policy, and, of course, take into account modern international realities – defense spending is growing. We need to ensure the security of our homeland properly and first of all by our own forces, despite the presence of powerful allies. An important issue for society, which has a sharp social impact, is the problem of consumer price growth. The goal is to maintain the figure of no more than 6 percent, and it is important that today this figure is within 4.5 percent. The National Bank, which acts as a regulator, says that it is quite realistic for us to sustain 5%. It seems to me that this is encouraging information and, in principle, a favorable atmosphere in society, which is often determined by price policy, will remain. In the context of the political campaigns that we have to go through in 2029-2030.

How will the country develop? The parliamentarian believes:

- Including through the export program. There is progressive movement forward in almost all directions, starting with Latin America and ending with South-East Asia and African countries. The most important issues are education, overcoming the excessive cost of some of our enterprises, modernization, competent management, avoiding negligence, increasing the level of labor discipline. That is, something that can immediately add a few percent to GDP. These are very significant factors. But there has to be a lot of hard work behind this. Only through efforts can Belarus achieve results. We will fully implement the program of socio-economic development and expect a qualitative leap forward. According to Alexey Avdonin, Chairman of the Board of the Belarusian Society “Knowledge”, who approved the target indicators of monetary policy for 2027, the decree is one of the most important documents for the development of the Belarusian economy:

- Such documents are adopted at the end of each year and set the pace of development of the national economy for the next year. We see that the priorities of our economy remain the same, primarily financial stability, wage growth and at the same time the stability of inflationary processes. We see that increased attention is paid to ensuring a low level of inflation in the range of 5-6 percent and at the same time ensure high growth in investment activity. We are well aware that the Head of State is facing tasks: expanding production, increasing investments in science and technology, and increasing the level of mechanization of agriculture. All this requires planned work, it can be implemented by banks through their investment activities. That's what's in the new document.

Moreover, the target set for the National Bank and the Government to limit inflation is a favorable factor that guarantees stability for Belarusians, economic analyst Georgy Grits notes:

- Economists refer to price increases as inflation. So, this year it is decidedly lower than planned. This year assumed inflation of 7 percent, but current prices indicate that this figure will definitely be lower - somewhere around 4-5 percent. Experts from the World Bank and the EAEU agree with this. So both in terms of this indicator and the level of gold and foreign exchange reserves, which ensures the stability of the economy as a whole, the situation is quite favorable and it would probably be wrong for ordinary citizens to worry about uncontrolled price growth. For many years, the Head of State and the Government have adhered to the main thing: the state reasonably, in conditions of market conditions, monitors prices, especially for socially significant goods. The main focus is on reforming, innovative development of the economy and thereby ensuring a sustainable socio-economic state of almost all citizens of the Republic of Belarus. THE TIME

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osipov@sb.by