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Maksim Yermolovich

Belarus can manage any economic risks

Opinions 04.11.2019 | 13:49
Maksim Yermolovich Maksim Yermolovich Belarusian Finance Minister

Belarus can manage any economic risks, BelTA learned from Belarusian Finance Minister Maksim Yermolovich during the Kastrycnicki Economic Forum (KEF) on 1 November.

The balanced state of the budget policy, the monetary management policy, the growing reserves, the stronger ruble, and an entire range of other factors indicate that the economy is stabilized, Maksim Yermolovich noted. “We are about to have the ability to manage any risks that may emerge in the medium term,” he said.

“The situation is deteriorated due to the lack of an agreement on compensations for the tax maneuver in the Russian Federation. Nevertheless, we will have to live with that. We are forced to adapt our budget to new conditions and build the next year's policy without understanding whether we will get this compensation or not,” Maksim Yermolovich stated.

In his words, the budget rules, which have been used for the last four years, will remain in place in 2020. “We intend to refinance at most 70% of our state debt payments. We intend to cover 25% using non-debt sources,” the finance minister added.

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