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Small, medium private enterprises expected to secure Belarus economy growth by late 2020

Friday, 30 September 2016

Prime Minister of Belarus Andrei Kobyakov made the statement after his working trip in Minsk Oblast

Small and medium private enterprises are expected to secure three fourths of the national economy's growth by late 2020. Prime Minister of Belarus Andrei Kobyakov made the statement after his working trip in Minsk Oblast on 30 September, BelTA has learned.

“We now pay close attention to small and medium private enterprises. We expect these enterprises to secure three fourths of the volume of economic growth by late 2020,” noted Andrei Kobyakov.

The Prime Minister underlined that small and medium private enterprises are the factor that should drive economic growth for the next five years.

The Prime Minister visited a number of enterprises as part of his working trip. Speaking about OOO Mark Formelle, Andrei Kobyakov stated it is exactly the case when properly organized small privatization can allow the company to produce results regardless of external conditions. “The company demonstrates economic growth, pays salaries on time and increases export,” said the Prime Minister.

In his words, he went on the working trip in order to see growth reserves of such enterprises. “A number of matters — not complaints, but requests — were raised during the businesslike conversion. It turned out the government can help in some ways while these enterprises can respond by creating new jobs. I believe that small and medium businesses require serious support,” summed up Andrei Kobyakov.