Republic of Belarus: Staff Report for the 2006 Article IV Consultation
IMF Staff Country Reports, August 25, 2006
Source details
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- Republic of Belarus: Staff Report for the 2006 Article IV Consultation
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Bibliographic details
- Published: August 25, 2006
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451805246.002
Summary
- Belarus’s economy has performed well owing to its strong macroeconomic policies, which facilitated rapid real income growth, near-full employment, and a reduction in poverty to the lowest level in the Commonwealth of Independent States (CIS).
- Executive Directors welcomed the disciplined monetary and fiscal policies.
- They commended efforts to curb budgetary transfers and subsidies, reduce the tax burden, and strengthen the financial system.
- They appreciated the National Bank of the Republic of Belarus (NBRB) in strengthening the supervisory frameworks.
- Executive Directors stressed the need for fiscal tightening and strengthening of fiscal policies, reforms, and economic performance.
Key Findings and Themes
- Macroeconomic performance:
- Rapid real income growth.
- Near-full employment.
- Poverty reduced to the lowest level in the CIS.
- Fiscal and monetary policy:
- Disciplined monetary and fiscal policies were noted and welcomed.
- Need for further fiscal tightening was emphasized.
- Structural and financial reforms:
- Reduction of budgetary transfers and subsidies highlighted.
- Reduction in the tax burden noted.
- Strengthening of the financial system and supervisory frameworks at the NBRB commended.
- Areas for further action:
- Strengthen fiscal policies and undertake reforms to improve economic performance.
Subjects and Keywords
- Subject: Currencies, Energy prices, Expenditure, External debt, Inflation, Money, Prices
- Keywords: Belarus SME toolkit, CIS country, CR, Currencies, Energy prices, exchange policy, golden share, golden share rule, government, IMF staff estimate, increasing terms of trade gain, Inflation, innovation fund, ISCR, policy, policy goal, procedure, terms-of-trade gain, utility cost recovery ratio
Content in this bundle
- _cr06314 — Executive Summary
- Cr06314r