Alexander Lukashenko discusses with Andrei Kobyakov current economic situation in Belarus

Alexander Lukashenko discusses with Andrei Kobyakov current economic situation in Belarus

Today, on 1 June, the Belarus President Alexander Lukashenko discussed with the Prime Minister Andrei Kobyakov the economic issues of the country.

The President was interested in the current state of affairs in the currency market and economy in general.

Alexander Lukashenko, Belarus President: 
The situation in the currency market has stabilized. While we used to waste currency in the past, “burning” the gold reserves, now, we are replenishing them. Individuals and corporations are selling foreign currency. It is a good process.

But I wanted you to tell me about the current state in the economy. Because nobody needs such monetary and currency policy, where there is no economic development. It is natural.

But it doesn't mean that we should abandon the hardline policy.

Once, I warned the government and heads of enterprises that we had just two months to “charge up”, and then “shoot” in late August – early September. We cannot leave people without work. Otherwise, people will not need a state like this.

In December, the Government and the National Bank were forced to implement tough measures aimed at macroeconomic stabilization.

As a result, the situation with regard to the domestic currency market and the prices became calm and manageable. But the GDP growth was lower than expected.

Andrei Kobyakov, Belarus Prime Minister:
According to the social and economic development forecast, the oil prices had to be $ 83 per barrel, and the Russian ruble's exchange rate – 43 rubles per U.S. dollar. In Q1 2015, these figures differed greatly. All these, certainly, required certain measures to tighten expenditure. The adopted measures could not but affect economic performance indicators, primarily the GDP.

Alexander Lukashenko pointed out that Russia provides systematic support to Belarus.

Alexander Lukashenko, Belarus President:
We lost nearly $3 billion due to the recession on the Russian market, sanctions, and the embargo. We turned to them and agreed to find a way out together. In the framework of the Eurasian Economic Union, we negotiated with Medvedev.

Economic development is a complex issue. Thus, the President and the Prime Minister also talked about the progress in the forage harvesting campaign.

Alexander Lukashenko, Belarus President:
I want to draw your attention to agriculture. The spring was very good, and we should not be late with forage storage. As the proverb says, one day is enough to feed a year. This period of time has begun. The forage in the fields is good. I urge the government and the Agriculture and Food Ministry to pay close attention to harvesting the entire volume of it. I will personally inspect the progress of the forage harvesting campaign in the country soon after the Indian President’s visit to Belarus.

Apart from that, during the meeting the current situation at the major Belarus industrial giants such as Minsk automobile plant, Minsk tractor plant, and Gomselmash was discussed. In addition, woodworking industry was touched as well.