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World Bank expects Belarus` economic situation to improve

The World Bank expects that the economic situation in Belarus will improve, but the government should carry out further reforms to ensure this, Martin Raiser, the WB`s Kyiv-based director for Ukraine, Belarus and Moldova, told reporters in Minsk on Friday.

Belarus has been experiencing hard times in the last six months, and it needs serious measures to get out of the crisis, including those aimed at cubing domestic demand, said Mr. Raiser.

The measures would hit the population’s pockets, but consistent efforts on the part of the authorities to stabilize the situation by pursuing sustainable monetary, budgetary and foreign exchange policies would make it possible for people to see better prospects, he said.

Additional consistent steps by the government will send an important signal to both the population and investors, said the WB expert.

He emphasized the need for Belarus to improve the investment environment to ensure that private businesses could play a role as a driving force behind economic growth.

People should see that they are moving toward a brighter future, not back into the past, to cope easier with existing difficulties, added Mr. Raiser. //BelaPAN