MINSK, 26 May (BelTA) - Inflation in Belarus is projected at 5% in 2020, Belarus Prime Minister Andrei Kobyakov told reporters after the government conference held by the head of state on 26 May to discuss the draft main provisions of the program on the country's social and economic development in 2016-2020, BelTA has learned.
“Mechanisms for investments are traditional. First of all, these include the maximum use of proprietary funds of enterprises and the corresponding improvement of the monetary policy parameters. Macroeconomic stabilization which the government talks about will help cut the interest rates on loans too 10-12% by the end of the five-year period. Inflation in the country is projected at 5% in 2002,” Andrei Kobyakov said.
He recalled that recently it has become possible to raise investment in foreign markets through depositary receipts. “It is also quite an interesting tool for raising investments into the share capital of our enterprises,” the Prime Minister said.
At the same time, he noted that state-owned enterprises should maximize the efficiency of investments focusing on the financial result. “You know that the government has adjusted parameters for enterprises for 2016. Now the main efficiency criterion is net profit. We gave up on setting out gross indicators for industries,” the Prime Minister said.
“The President reaffirmed once again that market-based instruments should be used to the maximum extent. People should be free in the market economy and should be able to use their skills, talent and the resources to make their lives better,” Andrei Kobyakov noted.
