IMF Mission Head: Belarus economic model very vulnerable

Belarusian economic model is very vulnerable to economic shock. This statement was made to journalists by the Head of the IMF mission in Belarus David Hoffman. According to his findings, the weakness of the domestic economy became evident during the recent market volatility period caused by the deteriorating external conditions.

In this regard, the IMF expert advised the Belarusian government to immediately reorient economic policy to stabilize the situation and to make possible a sustainable recovery.

The Fund recommendations remain the same: the Belarusian government should develop and implement an ambitious program of reforms. These include the liberalization of prices, the IMF also advises to stop control over the rates of the public utilities and transport, so that consumers fully cover the costs.

Belarus also needs privatization in the corporate and banking sectors, as well as fast change of performance targets for enterprises, Interfax.by reports.