Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Sunday, December 10, 2017

Lukashenko vows economic decisions by end of 2015

Belarusian President Alexander Lukashenko said Wednesday that new measures to secure economic growth will be made by the end of the year.

“We live in a global world and our economy is open," Lukashenko said. "The neighbors’ problems immediately become our problems.”

Lukashenko cited current strains on the economy that include continued sanctions against Russia, its major trading partner. Other factors include falling oil prices and the continued devaluation of the Russian ruble.

He said that the global economic landscape is different now than it was 20 years ago with more knowledge and services sectors overtaking positions once held by industrial sectors.

“When answering the people’s most sensitive questions, saying that we would keep the ruble exchange rate and prices under control and preserve jobs is not enough. A much more important thing is to show how we will do it,” Lukashenko said.

The economic measures that will come are expected to address issues in a comprehensive way.