The National Legal Internet Portal has published Council of Ministers Resolution No. 726 of 15 December, “On the Socio-Economic Development Plan of the Republic of Belarus for 2026.”
The document requires the *unconditional fulfilment* of the 2026 targets and parameters. It defines the state bodies responsible for meeting specific indicators.
Key performance indicators have been set for state enterprises and organisations. For state organisations and companies in which the state holds 50 percent or more, the indicators are:
- net profit;
- return on sales;
- reduction of production and sales costs;
- export of goods and services (for organisations engaged in foreign trade);
- growth rates of investment in fixed capital (for organisations implementing investment projects or carrying out technical upgrades).
For banks in which the state holds at least 50 percent, three indicators are defined:
- profit;
- growth of time-deposit balances of legal entities and individuals in Belarusian roubles with a maturity of one year or more;
- growth in the volume of issued investment financing.
Separate indicators are established for the Development Bank. Its performance will be assessed based on the volume of:
- financing provided for the implementation of investment and other projects;
- financing provided to support small and medium-sized enterprises;
- export financing;
- financing provided for the purchase of modern machinery and equipment in accordance with Decree No. 146 “On Financing the Procurement of Modern Machinery and Equipment.”
Indicators have also been set for insurance organisations and the Belarusian Currency and Stock Exchange. Fulfilment of the indicators will be used as a criterion in evaluating executives during certification and when extending or signing new contracts.
The Council of Ministers has additionally recommended that district and city executive committees, as well as the district administrations of Minsk, set quarterly targets for “Nominal Accrued Average Monthly Wages” and “Growth of Fixed-Capital Investment.”
The resolution contains a subsection “for official use.” Judging by the structure, it includes measures to stimulate investment activity and accelerate financial-market development, as well as financial support for exports. The Ministry of Finance and the Ministry of Labour, with the involvement of other state bodies, have been tasked with enrolling at least 100,000 people in the supplementary funded pension insurance programme.
The Ministry of Architecture and Construction, the Ministry of Industry, the Ministry of Agriculture and Food, and sectoral concerns must ensure the introduction of lean-production practices in a number of subordinate organisations.
The resolution sets quarterly targets for GDP growth and other socio-economic indicators.
GDP must grow by 1.2 percent in January–March, by 1.8 percent in January–June, by 2.4 percent in January–September, and by 2.8 percent for the full year.
Real disposable household incomes must grow by 3.5 percent in January–March, by 4 percent in January–June, by 4.5 percent in January–September, and by 4.8 percent for the year.
Fixed-capital investment must grow by 3.5 percent in January–March, by 4 percent in January–June, by 4.5 percent in January–September, and by 4.8 percent for the year.
Exports of goods and services must grow by 1 percent in January–March, by 2 percent in January–June, by 2.8 percent in January–September, and by 3.7 percent for the year.
Inflation must not exceed 2.5 percent in January–March compared with the beginning of the year, 3.8 percent in January–June, 4.9 percent in January–September, and 7 percent for the year.
