EDB: Belarus needs realistic economic policy

The EDB experts see two major problems - high inflation and the balance of payments deficit. Although the inflation has remarkably decreased in 2012, the growth of prices in the country remains high - an average of 1.7% per month. As the balance of payments in the second half of 2012, it is much worse - the current account deficit makes 7.7% of the GDP, while in 2011 there was even a surplus.

Both of these problems occurred because Belarus has started active lending again. Also, worsening of the oil trade conditions between Belarus and Russia gave a negative impact.

According to the experts’ conclusions, the economic situation is not very unfavorable, or heavy to manage. "In case of pursuing a realistic economic policy by the government and the central bank, the republic can restore stability in the economy and move towards sustainable, although moderate in speed, growth in the upcoming 1-2 years", -  BelaPAN quotes EDB materials.