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Economy
08 October 2021, 10:56

Minister: Robust economy allows Belarus to fulfill social commitments to the full

An archive photo
An archive photo

MINSK, 8 October (BelTA) – Due to high rates of economic growth, Belarus can fulfill its social security commitments to the full and reduce the burden on business, Economy Minister Aleksandr Chervyakov said during a working trip to Baranovichi District, BelTA informs citing the ministry's website.

The minister took part in a meeting of the city executive committee to discuss five-year development programs for Baranovichi and Pinsk. During the study of respective draft documents, the economy minister emphasized the need to place a bigger focus on raising investment into the economies of the districts.

“Due to high rates of economic growth, Belarus can fulfill its social security commitments to the full and might be able to reduce the burden on business. Contrariwise, in conditions of economic slowdown, the government might resort to increasing the fiscal burden to fulfill social security commitments. This is why investments, both into the public and private sectors, are important to ensure sustainable and long-term economic growth. Each enterprise should have its own investment program for five years. This is our overall strategic task,” Aleksandr Chervyakov said.

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