IMF recommends against wage increase in Belarus

The Belarusian authorities will have to refuse from the practice of increasing wages in order to preserve the macroeconomic stability this year, he told BelaPAN.

Goal-oriented crediting should be restricted much faster than it is being done now, Hoffman noted. He recommended a strict budget and tax policy to the government and a more flexible exchange rate to the National Bank. The monetary policy should also be stricter.

The Belarusian economy still needs deep structural reforms to stimulate steady economic growth, Hoffman added.