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21 January 2021

Opinion: National business should be the driver of the Belarusian economy

National business should be the driver of the Belarusian economy, Deputy Chairman of the Belarusian Scientific and Industrial Association Georgy Grits said in an interview to the Belarus 1 TV Channel as he commented on Belarus' major social and economic development guidelines for 2021-2025, BelTA has learned.

“Sometimes they just impose their opinion on us: a foreign investor will come and make us happy. However, we should clearly understand that this is a foreign country for them, and they come here to make money. Global experience, including that of the countries with economies in transition (South Korea, China, even neighboring Poland) shows that the driver is national business, private or state-run. It should be a magnet, it should be attractive. From this point of view, in my opinion, the reorientation towards creating favorable conditions for national business is a priority. In principle the project of the future, which the Economy Ministry is working on, targets the national business,” said Georgy Grits.

The country’s main social and economic development guidelines for the next five years will be discussed at the 6th Belarusian People's Congress. “The government has suggested a scenario of a 20% growth over the next five years. I would consider it as a basic approach. The task, I believe, should be more ambitious. If we want to reach the level of the neighboring countries, not to be a third world country, but be a country with a developed economy, be a leader in Eastern Europe, we have to grow annually by 5-6%. Of course, it should be done with the determination of drivers, sources, resources, and so on,” said the expert.