The International Monetary Fund has forecast the economic development of Belarus, according to which GDP will continue growing in Belarus in 2011, while inflation will be at the level of the last year. Such an estimate was announced to journalists by the head of the IMF mission to Belarus Chris Jarvis on February 2.
«We see that a number of trends, observed in 2010, will remain in 2011, said Chris Jarvis. — GDP will continue growing, inflation will be kept at the level of 2010, while a fairly large current account deficit will also remain.»
According to the IMF experts, the Belarusian authorities and the National Bank should take further steps to reduce the deficit. IMF recommends tighter fiscal policy, higher interest rates, reduction of the credit net flow of the state programs, flexibility of the exchange rate of the Belarusian ruble, as well as structural reforms, said Chris Jarvis, BelTA informs.
The head of the IMF mission to Belarus said that the IMF endorsed the steps, taken by Belarus in recent years, including the monetary policy, and considered them to be correct. «These, in particular, are measures to curb liquidity support, resulting in increased interest rates on the interbank market,» he said.
«The purpose of the mission is to continue the annual discussions on the development of the Belarusian economy, which is made in respect of each country — a member of the IMF,» recalled Chris Jarvis. The mission’s report is planned to be submitted to the IMF Executive Board in March.
«The issue on the new program of Belarus and the IMF was not discussed,» the head of the IMF mission to Belarus added. According to him, the Belarusian government did not apply to the IMF for a new program.
