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Belarusian Economy Showed Continuous Growth in 2005
In 2005 the
economy of Belarus demonstrated steady and dynamic growth. Virtually all
forecasted indicators of socio-economic development of the country have been
achieved. Compared to 2004:
– GDP grew by
9.2 percent;
– industrial
production rose by 10.4 percent;
– agricultural
production rose by 2.1 percent;
– consumer
goods production increased by 10.4 percent;
– capital
investments grew by 22.6 percent;
– international
reserves increased by 68.3 percent to $1.3 billion;
– foreign trade
of goods and services grew by 11.1 percent, including the growth of exports
of goods and services by 17 percent;
– foreign trade
surplus has been reached for the first time since 1991 and amounted to $234
million;
– annual
inflation rate made up only 8 percent;
– average
monthly inflation rate was at 0.64 percent;
– average
monthly wage in public and the real economy sectors has reached $225 and
$250, respectively;
– real money
income of the population went up by 16 percent as of December 1, 2005;
– retail trade
turnover increased by 19.6 percent as of December 1, 2005;
– housing
construction – about 3.2 million square meters have been constructed as of
December 1, 2005.
The level of
officially registered unemployment by December 1, 2005 made up 1.6 percent
of the economically active population.
Belarus
Government Sets Up Targets for 2006
The Presidium
of the Council of Ministers of Belarus approved on January 10, 2006 joint
plan of actions of the Government of Belarus and National Bank to achieve
the most important parameters of the forecast of socio-economic development,
budget and the monetary policy guidelines of Belarus for 2006. The most
important parameters of the socio-economic development forecast for 2006
are:
– GDP is expected to grow by 7-8.5 percent;
– production of industrial goods – 6.5-8 percent;
– agricultural products – 6-8 percent;
– consumer goods – 8-9 per cent;
– capital investment – 13-14 percent;
– foreign trade – 8.3-9.3 percent;
– real money income of the population are projected to be up
by 7-8.5 percent;
– real wages – 8-9 per cent;
– retail trade turnover – 9-10.5 percent;
– paid services to the population – 8-9 percent;
– GDP energy intensity will slip down by 6-7 per cent;
– housing construction – some 3,7-4,2 million square meters.
There is also a
target to achieve the level of nominal wages of $300 per month in equivalent
by the end of 2006. The exchange rate of the Belarusian ruble against the $1
of Br2100-2200 should be achieved by the end of 2006. Devaluation of the
Belarusian ruble to the Russian currency cannot exceed 2 per cent. Budget
deficit is not to surpass 1.5 per cent of GDP.
The joint plan
of actions comprises the actions in social, budgetary-tax and monetary
policy, investment and innovation activity, development of the real sector
of economic, small and middle entrepreneurship. They are designed to
contribute to the implementation of socio-economic development forecast,
budget and guidelines of the monetary policy of Belarus for 2006.
Belarus to Build Up Gold and Foreign Currency Reserves to
$3 Billion By 2010
By 2010 Belarus
is set to build up gold and foreign currency reserves up to $3 billion, or
2.5 times, Chairman of the Board of the National Bank Piotr Prokopovich has
told reporters last week.
The target is
ensured in the draft guidelines of the monetary policy of Belarus for
2006-2010. “Today we are working intensively on the program and are set to
pass it this April”, Piotr Prokopovich said.
To date the
gold and foreign currency reserves amount to about $1,3 billion. In 2006
they are expected to grow by $470 million – $520 million.
In line with
the draft program, in 2006-2010 the National Bank will seek to meet the
targets of the socio-economic development programs, increase the living
standards of people. “We have gained a wealth of working experience. We have
got necessary potential”, the head of the National Bank said.
The Belarusian
ruble is expected to continue strengthening against the Russian currency and
USD.
State Customs Committee to Smoothen Freight Transit Across
Belarus
The State
Customs Committee of Belarus will significantly simplify the conditions of
transit of freight across Belarus, chairman of the Committee Alexander
Shpilevskiy said at a press-conference last week.
According to
him, there is a draft decree on the point prepared for the President to
sign. “The draft decree contains a system of measures to mould an attractive
system of transit in Belarus. This envisages simplifying the throughput
activities, streamlining goods-related procedures”, he said. A number of the
measures of the decree have already been introduced, Alexander Shpilevskiy
said.
According to
him, in 2001 the customs bodies of Belarus inspected about four percent of
the total volume of freights transported through the borders. At present
this index makes 1.5 per cent. In 2001 there were 1,600 nondeliveries
registered, in 2005 – 15, a part of them was connected with force majeur.
Alexander Shpilevskiy also underlined that the Belarusian customs bodies
have considerably intensified their cooperation with the federal customs
service of Russia.
Russian Gas Transit via Belarus to Grow By 7.8 Percent in
2006 to Reach 44 Billion Cubic Meters
In 2006 Russia
is set to transit 44 billion cubic meters of natural gas via Belarus.
About 40.8
billion cubic meters of gas were transported via Belarus in 2005. Russian
gas was mainly delivered to Lithuania and Kaliningrad oblast, Poland,
Germany and Ukraine. “We have not only honored all our contractual
obligations last year but over fulfilled them by 1.4 billion cubic meters”,
the Chief Engineer of Belarus Gas Company "Beltransgaz" Tsvitomir Sorokhan
said last week during a press-conference.
The
Beltransgaz' representative has also informed that about 29 billion cubic
meters of gas will be transited via the Belarusian part of the Yamal-Europe
gas-main in 2006, or 2 billion cubic meters more over last year. In 2005 two
more compressor plants - Krupskaya and Slonimskaya were put into operation.
“This year the construction of two more plants – Minskaya and Orshanskaya
will be finished to bring the Belarusian part of the gas-main to reach its
designed capacity of 33 billion cubic meters a year”, Tsvitomir Sorokhan
added.
Some 15 Fruit and Vegetable Processing Companies to be
Reconstructed in Belarus in 2006-2010
In line with
the Program on developing fruit and vegetable canning in Belarus for
2006-2010, approved by resolution of the Council of Ministers #106 of
January 27, 2006, In the near five years some 15 fruit and vegetable
processing companies will be reequipped and reconstructed in the country.
The
modernization will let the companies expand the range of their goods,
increase the number of import-substituting products, enhance the quality and
competitive power of national fruit and vegetable cans. The production
facilities of these companies will increase from 367.5 million cans in 2005
to 409 million in 2010. Some 71 percent of the goods will be produced in
modern packaging.
The production
of canned green peas is expected to grow two times: from 24 million cans in
2005 to 45.5 million in 2010. It will let completely satisfy the needs of
Belarus in these products (20-22 million cans) and export a part of them.
The production of canned and pickled tomatoes will grow more than 1.5 times,
canned mushrooms, haricot, tomato sauce and ketchup – two times.
Due to the
reconstruction the national companies will increase their sales volumes of
canned fruits and vegetables on the external market. For example, in 2010
some 77 million cans of these products are expected to be exported.
Investment
Project: Creation of the Company to Support Small Entrepreneurship
The Government
of Belarus is planning to establish a guarantee fund in order to render
financial support to the small-entrepreneurship subjects for development of
their entrepreneurs’ activities, participate in the development of the
investment projects providing for extending and upgrading the production of
goods, promote the implementation of the programs for state support of small
entrepreneurship.
The detailed
description of the project in the form of investment proposal and
description of the mechanism for providing small enterprises with the
guarantees for obtaining the credit resources are available on the following
address:
www.belarusembassy.org (please, see economic news on the first page).
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