EDB welcomes Belarus government’s macroeconomic stabilization measures

        The Eurasian Development Bank (EDB) welcomes the measures taken by the Belarus government for the sake of macroeconomic stabilization, according to the website of the Eurasian Fund for Stabilization and Development (EFSD). The Eurasian Development Bank is the agency in charge of managing EFSD assets. The statement reads that despite the considerable weakening of the Belarusian ruble the rigid monetary policy and the fiscal policy have prevented another inflation surge like those in previous years. EDB experts believe that in view of uncertainty on foreign markets and the expected slow recovery of the Russian economy it is crucial for Belarus to find domestic reserves to bolster the economy’s competitive ability as the key factor for stabilizing the situation and ensuring steady growth. The EDB believes that for the sake of raising the competitive ability it is necessary to continue the policy of balanced revenues that was launched in mid-2014 for the sake of bridging the gap between salary growth and labor productivity growth and for the sake of improving the policy of market-driven exchange rate and money supply targeting that secure and support the balanced exchange rate.