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IMF Expert Acknowledges the Stable Economic Growth in Belarus
The International Monetary Fund acknowledges the stable economic growth in
Belarus in 2003 and in the 1Q of 2004, Thomas Richardson, Head of IMF
Mission to Belarus said at a Minsk-Washington video conference on May 19,
2004.
Richardson noted differences in the Belarusian and international systems for
calculating statistics, which may cause a difference in GDP figures of about
one percentage point. Nevertheless, even taking this into consideration
Belarus is demonstrating very stable economic indicators, he said.
Among positive trends Richardson noted high growth in exports and the
ongoing liberalization of the currency system.
Richardson mentioned the relatively low level of budget deficit (about 1,5%
of GDP). IMF also welcomes tax pressure relieve that was implemented by the
Government from the beginning of 2004.
WB Mission to Belarus to Prepare Strategy Implementation Report
Prime Minister of Belarus Sergei Sidorsky had a meeting with World Bank
Country Director for Belarus, Moldova and Ukraine Luca Barbone on May 17,
2004 to discuss the implementation of the country cooperation strategy for
2002-2004, which expires on June 31, 2004.
“We hope we will find approaches that would provide the desired progress in
the work of Belarus with the World Bank and revive the projects in the small
and medium businesses. I am going to have the earlier problems settled,”
Sidorsky said at the meeting.
According to Luca Barbone, the cooperation between the WB and Belarus has
been diverse. “We reached good progress in the social infrastructure reform
project,” Barbone said.
The social sector and budget policy are to become the priorities of the
cooperation, the WB Country Director said.
Currently, the WB’s project on the social infrastructure retrofitting is
carried out in Belarus. The Bank provided the loan in the amount of $22.6
million in June 2001.
Belarus became WB member in July 1992. Since then Belarus received $184.8
million in loans from the WB. Besides, the Bank provided $15 million of
gratis aid from special funds aimed at financing environment projects,
supporting low-income population, preserving biodiversity of forests and
cutting the use of ozone-depleting substances.
On Visit of EBRD Delegation
The EBRD delegation visited Belarus on May 16-19 to prepare a cooperation
strategy for next two years. The previous strategy expired on May 3, 2004.
The new strategy of cooperation between the European Bank for Reconstruction
and Development and Belarus will be based on the constructive relations,
which were developed during the previous two years of cooperation,
Belarusian Prime Minister Sergey Sidorski told representatives of the EBRD
Board of Directors.
The Belarusian side provided every possibility for the EBRD mission to
receive full information about the activity of the Government and NGOs to
estimate the economic and political situation in the country. “This will
allow determining the possible moves of Belarus and the EBRD that we will be
able to jointly make in the near future,” the Sidorski said.
On
May 19, 2004, Belarusian Minister of Foreign Affairs Sergey Martynov met
with the official delegation of the EBRD Board of Directors.
Sergey Martynov noted that Belarus conducts a multi-vector policy and is
interested in development of cooperation with all members of international
community on the basis of equal rights and norms of international law.
Sergey Martynov stated that Belarusian interest in expansion of cooperation
with Europe is based on certain economic benefits. The European Union is the
second economic partner of Belarus after Russia.
According to EBRD officials, Belarusian priorities in the development of the
private sector, economic reforms and the possibility of holding transparent
democratic parliamentary elections this fall are important for the Bank.
Belarus’ WTO Accession Group to Hold Next Fall
The next session of the working group for Belarusian accession to the World
Trade Organization (WTO) is to be held in fall 2004. The issue was agreed at
a meeting of Belarusian representative to UN in Geneva with the WTO
Accession Department.
Belarusian side passed to the WTO Accession Department consolidated
Belarusian foreign trade documents which are to be reflected in the working
group's general report.
In
January 2004, the sides agreed on the creation of the General report that
would include references to legal acts that are to be accepted to complete
the preparation of the final document and accede to WTO.
As
Belarusian Prime Minister Sergei Sidorsky said earlier, Belarus bases itself
on the creation of equal, but not discriminatory conditions of accession,
and Belarusian commitments should correspond to the development of the
country.
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