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Economy
25 January 2021, 17:26

MP: Belarus' new five-year program aims to ensure stable economic growth

MINSK, 25 January (BelTA) - The main goal of the draft social and economic development program of Belarus for 2021-2025 is to ensure stable economic growth, Lyudmila Nizhevich, the chairperson of the Standing Commission on Budget and Finance of the House of Representatives, told BelTA.

According to her, it is only a strong economy that can enable the country to improve the well-being of citizens, social environment and, as a result, social stability in society.

"It is important that the program takes into account the vulnerabilities of the Belarusian economy such as dependence on hydrocarbons, underdevelopment of high-tech manufactures, regional imbalances, constraints on business and others. The emphasis is made on the dialogue between the state and business, accelerated development of high-tech manufactures, development of a new type of educational system capable of responding to modern social and technological challenges and balancing out the regional development,” the MP noted. “In recent years, the process of urbanization has become more tangible in our country. Certain regions and cities have different levels of development and, accordingly, varying standards of living. It is gratifying that the program attaches special attention to the measure to erase these interregional differences, to support accelerated development of the economically lagging regions of the country."

Lyudmila Nizhevich believes that the work to reduce risks and to provide additional guarantees to honest business and investors suggested in the program will spur investments in the country in general and lagging regions in particular.

“The launch of a new investment cycle is extremely important to ensure the social guarantees envisaged in the program. In this regard, the MPs will need to work on further improvement of the legislative framework to attract investment, including by improving the Belarusian financial market. Only an economically strong state is able to provide those social guarantees that the society expects today. The foundations for the country's economic development of the next five years have been laid down. The task is to put them into practice,” the noted.

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