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Belarus' government action plan for 2016-2020 approved

MINSK (BelTA) The House of Representatives approved the government action plan for 2016-2020, BelTA has learned.

The document was presented by Prime Minister Andrei Kobyakov. It specifies approaches, measures and mechanisms that will be used to develop Belarus' economy and ensure the economic growth rate which will be higher than the average global level by the end of the five-year period.

The government action plan is included in the package of program documents for 2016-2020. It correlates to the implementation of 20 national programs in various industries, the program of the social and economic development for 2016-2020. The document provides for three basic conditions of the economic policy. These are the macroeconomic balance, increase in the gold foreign exchange reserves to the minimal safe level and debt-free financing of the country's external accounts, gradual payment of external debts.

Besides, the program envisaged a complex of comprehensive and inter-related institutional measures which can make up five major blocks. The first one includes measures aimed at the restoration of the competitiveness of the manufacturing complex. The second one is connected with the reduction of costs and the reorganization of the energy and utility sectors. The third one stipulates the creation of bobs, development of SMEs. The fourth block touches upon the infrastructure and the construction complex, the optimization of costs, and the growth and diversification of export of construction services. The fifth one envisages a strong social focus of the program which is aimed at providing targeted assistance, implementing social programs to ensure higher living standards.