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IMF representative warns that high GDP growth rate would jeopardize macroeconomic stability

The Belarusian government's GDP growth targets cannot be attained without jeopardizing macroeconomic stability, David Hofman, head of the International Monetary Fund (IMF)'s mission to Belarus, told reporters in Minsk on Monday.

"The amount of stimulus that would be needed to achieve such high growth rates would pose serious threats to inflation and the exchange rate," Mr. Hofman said. "This is precisely we why urge the authorities to focus on macroeconomic stability and the inflation rather than these growth targets."
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The government had projected Belarus' GDP to increase by between five and 5.5 percent this year. The GDP growth target for 2013 is 8.5 percent. //BelaPAN