Lukashenko: budget policy changes should not negatively influence people's well-being
The President of Belarus has been reported today on the current budget policy. Among those present at the meeting were Chairman of the State Control Committee Vasily Gerasimov, Chairman of the National Bank’s Board Pavel Kallaur, First Deputy Prime Minister Nikolai Snopkov, and Deputy Head of President Administration Dmitry Krutoi. Finance Minister Yuri Seliverstov presented the main report.
“The budget indicates functioning of the economy and the state of affairs in the country on the whole. Therefore, I would primarily like to know what measures have been taken by the Government – as financiers are used to say – to consolidate the budget? Simply speaking, what have we done to ensure the economy, the real sector of the economy develops? How much would have the budget been balanced as a result of all our measures taken?” Aleksandr Lukashenko addressed those present in the beginning of the meeting.
The President focused also on another issue: assessment of budget revenues, “That is, the revenues of our budget in connection with the measures taken in the face of frenzied Western pressure on the country’s economy and its credit and financial system. What is the possible deficit in our budget this year, and how will we cover this deficit?”
Aleksandr Lukashenko underlined the most important aspect, “The most important goal of our present discussion, and why this balanced budget is needed, is our people. [This embraces] salaries that are an area of responsibility of the budget, public sector employees and, of course, pensioners. And how this affects the real sector of the economy, labour collectives, including wages, incomes of our people. In other words, the budget highlights all our modern problems and positive aspects – as if it is a mirror.”
The Head of State added that the Chairman of the National Bank’s Board had been invited to the meeting for a reason – ‘in order for those present here (as you mainly deal with economic and financial issues in our country) to understand that the economy is the key’, “Other issues are behind it: the exchange rate, inflation, and so on. The exchange rate of the national currency and its ratio with other currencies are also important. Of great significance is inflation – that results in growing prices, or deflation. [The latter] is also of no good. However, the economy is the key. If the economy collapses, no one will need any exchange rate, inflation, deflation, and so on.”
Aleksandr Lukashenko stressed that it is not the time for professional disputes now, “While realising that there have always been contradictions between the National Bank and the Government (they have been, are observed now and will continue to exist), we still need to find a constituent to ensure our economy does not suffer. We need to do everything to make the economy work – and then there will be a rate and there will be no inflation.”
The President demanded an objective report on the situation, while noting, “I am informed and, openly speaking, was even slightly surprised – though pleased – that our budget even added a little bit, a little more than a percent, during Q1. However, this does not mean that we should relax, because a pressure against us will be constantly intensified.”
