Updated at 11:50,16-10-2017

Government says development of small and medium business a priority

Euroradio

It is a priority for the next five years, said Belarus Economy Minister Uladzimir Zinouski in program Kontury on ONT.

The Government has singled out development of small and medium-sized businesses a priority for the next five years, Belarus Economy Minister Uladzimir Zinouski in program Kontury broadcast on TV channel ONT (see video).

Mr Zinouski: "Of course, it is necessary to issue loans on a competitive basis. Priority will be given to small and medium-sized business. And we believe that the engine of progress for future five-year period is a faster pace of such small businesses."

In February Uladzimir Zinouski already spoke about the system of support for small and medium-sized enterprises. He said it needed restructuring. See more here

The Minister noted that in Belarus, by the end of the year, it is necessary to slightly increase the volume of industrial production. But it will not be done at the expense of storage, the products must be sold. Moreover, there are Chinese loans, which have not been fully utilized, emphasized Mr Zinouski.

The Economy Minister also expressed hope that before the end of the year inflation will be kept within 16-17%, which the government hoped for at the beginning of the year.