Public release of 2016-2020 Belarus economy reformation program in mid-October

MINSK (BelTA) – A program meant to guide the introduction of structural reforms in Belarus' real economy sector in 2016-2020 will be unveiled in mid-October, BelTA learned from Taras Nadolny, First Deputy Chairman of the Board of the National Bank of the Republic of Belarus (NBRB), during the 9th Russian National Banking Forum in Minsk on 25 September.

According to the source, the government and the country's central bank are working together to develop a program of structural reforms for 2016-2020. The program will be released for public discussion in mid-October. The program outlines key principles that will allow creating points for sustainable economic growth.

Taras Nadolny said that from the point of view of macroeconomic policy all the basic decisions had been made to enable transition to conditions more comfortable for the real sector. The official said that they had had to come up with ways to reorganize approaches to corporate management, ways to reduce operation costs, ways to reach new target markets.

According to Taras Nadolny, the developers also discussed ways to separate functions of the government agency as the agency in charge of regulating an economy branch and functions of the owner of state property. At present state property accounts for about 65% of the total in Belarus, this is why new management approaches are in order.