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04 August 2020, 12:59

Belarus government, central bank instructed to channel all resources into real sector

Aleksandr Lukashenko
Aleksandr Lukashenko

MINSK, 4 August (BelTA) – The Belarusian government and the central bank will have to channel all the resources into the real sector of the economy. Belarus President Aleksandr Lukashenko gave the relevant instruction during his address to the nation and the parliament on 4 August, BelTA has learned.

Aleksandr Lukashenko said: “It is necessary to continue working while clearly understanding goals and perspectives. It is not some standard phrase. A crisis is not only about hardships. It is also a time for great opportunities. We can grow: the epidemic has left markets bare and many products can occupy new niches now. This is why whatever the cost the government and the central bank will have to channel all the resources and reserves into the real sector of the economy.”

The president continued: “There is only one goal – save the country, save jobs without losing revenues. Frankly speaking, even modest results will be satisfactory.”

In his words, today it is necessary to neutralize the pandemic's impact on the economy as fast as possible. “You can see the global situation: borders are closed, mass bankruptcies, untamed unemployment. Integration structures and blocs are virtually paralyzed. The most stable ties were destroyed in virtually two to three months. Even diehard pessimists could not have imagined what is going on right now. Virtually all the experts predict a lengthy recession and a collapse,” the head of state pointed out. “A liberal economic model will surely be unable to handle it [the recession]. Even in the super democratic USA the president arranged direct government procurement from private companies within 24 hours when it was necessary and all the market relations be damned.”

Aleksandr Lukashenko stated that in this complicated situation Belarus did not shut down enterprises unlike the rest of the world. Those in need of state support received extra Br0.5 billion. “And it happened in conditions when the state budget failed to receive Br1.5 billion due to oil trade quarrels with Russia,” the president noted.

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