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.