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WEEKLY DIGEST
OF BELARUSIAN NEWS
August 20, 2004
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NATIONAL NEWS
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Alexander Lukashenko Started Working
Trip to Russia
On August 20, Belarusian President Alexander Lukashenko
begins his working trip to the Russian Federation.
As agreed earlier the Presidents of Belarus and Russia will
hold talks on all aspects of bilateral cooperation and also on urgent issues
of international politics.
Belarusian Economy in the First Half of
2004
In the first half of 2004 the economy of Belarus demonstrated
sustainable and dynamic development.
In comparison with the first half of 2004: GDP grew 10.3
percent; industrial production rose 14.4 percent, agricultural production
rose 5.7 percent; consumer goods production increased by 14.2 percent;
volume of investment in fixed capital grew 21.7 percent; real income of the
population (adjusted to the consumer price indices) grew 12.5 percent.
The results of foreign economic activity of Belarus showed
considerable over fulfillment of forecasts: in the first half of 2004
foreign trade in goods in comparison with the same period of 2003 grew 32.5
percent, with both exports and imports grow at an equal pace.
Territorial structure of exports was substantially
diversified. While formerly about 70 percent of Belarusian exports went to
Russia, today Belarus exports there less than a half (47 percent) of its
products. EU is second largest trade partner of Belarus with a 37 percent
share of Belarusian exports. Substantial amounts of goods are being
delivered to the countries of Middle East, Asia, Africa, and the US.
Belarusian exports to the United States grew by 76 percent in the first six
months of 2004 in comparison with the same period of 2003.
According to the official report by the World Bank World
Development Report 2005 published in May 2004, the volume of direct foreign
investments in Belarusian economy made up 247 million dollars in 2002. The
per capita amount of investments in Belarus was 25 dollars, whereas in
Russia it was 21 dollars, in Ukraine 14 dollars.
(Full text of "Belarusian Economy in the First Half of 2004"
may be found at
www.belarusemassy.org).
On Poling Stations for Belarusian
Citizens Abroad
About 40 polling stations were formed for the Belarusian
citizens living abroad in order to give them an opportunity to take part in
the elections to the Chamber of Representatives of the National Assembly of
the Republic of Belarus. The polling stations will be opened in those
diplomatic establishments, where at least 20 Belarusian citizens are
registered. There are 32 such states.
2 polling stations will be opened in the USA (Washington, and
New-York), 1, in Canada, 4, in Poland, 2, in Germany (Bonn, and Berlin), and
3, in Russia (Moscow, St. Petersburg and Kaliningrad). Belarusian citizens
living in Austria, Italy, Great Britain, Hungary, China, Belgium,
Netherlands, Latvia, Lithuania, Kazakhstan, Moldova, the Ukraine and other
states will also be able to exercise the universal suffrage and cast vote
for a candidate to the Belarusian Parliament.
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INTERNATIONAL COOPERATION
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On Foreign Investments into Belarusian
Economy
In the first 6 months of 2004 Belarusian economy (banks
excluded) received $655.4 million of foreign investments, reported the
Ministry of Statistics and Analysis of Belarus.
The main investors were companies from Switzerland (39.8%),
Russia (18.1%), the UK (7.2%), the USA (5.1%), and Germany (4.8%).
The volume of direct foreign investments within the six
months of the year grew 1.5-fold to $431 million or 65.8% of the total.
Credits of foreign co-owners of companies amounted to 68.2% of the total
volume of direct investments, other direct investments making 23.4%,
contributions to charter capital 8.4%.
Most of the direct investments went to trade and public
catering - $191 million (4.3%), communications - $73.8 million (17.1%),
industry - $72.9 million (16.9).
According to the Ministry of Statistics, in H1 2004 other
foreign investments made $224.1 million or 34.2% of the total.
Portfolio investments in H1 2004 made $360.6 thousand.
Within the six months of the year most of the foreign
investments were given to Minsk enterprises (60.9%), Minsk region (14.1%)
and Brest region (6.7%).
According to the Ministry, the net flow of foreign
investments to the Belarusian economy made $2.5 million against $53.7
million of net investments repatriated in H12 2004. Meanwhile, net direct
investment in H1 2004 reached $61.2 million against $11.1 million of net
disinvestments in H1 2003, however, in other categories of investments net
disinvestment reached $59.1 million (38.85 up on year).
As for portfolio foreign investments, net proceeds reached
$360.4 thousand, which is a 12.4-fold increase on year.
The Ministry informs, the greatest investment proceeds were
registered in industry - $38.8 million, the greatest withdrawal of
investments in transport - $19.9 million.
IFC Grants Belarus Priorbank $20
Million Loan to Finance Private Projects
The International Finance Corporation (IFC) granted Belarus
largest private bank Priorbank a U.S. $20 million loan for seven years.
In line with the loan agreement, the bank may use the loan to
finance projects of private Belarusian companies in the production sector
and invest in the equity and floating capitals of private companies.
Priorbank was set up in 1989. In January 2003 a controlling
stake in the bank was sold to Vienna-based Raiffeisen Zentralbank
Oesterreich AG (RZB-Austria) for 30.6 million euros.
Priorbank is Belarus' largest private commercial bank with
61.3% controlled by RZB-Austria through its 100% subsidiary Raiffeisen
International Beteiligungs AG (RIB). EBRD has 13.5% in Priorbank,
state-owned oil company Belorusneft 3.11%, Belarus' Economy Ministry 2.13%,
autoproducer BelavtoMAZ 1.96%.
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BUSINESS AND ECONOMY
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On GDP Growth in January-July
In January-July GDP in Belarus made 25.5trln rubles having
increased in comparison with last years corresponding period in comparable
prices by 10.2%, reported the Ministry for Statistics and Analysis.
The forecast of socio-economic development of Belarus for
2004 envisages GDP growth of 9-10%.
According to the Ministry for Statistics and Analysis,
industry accounts for 28,3% of GDP, agriculture 4.7%, construction 5.6%,
transport and communications 10,4%, trade and public catering 9.9%.
In the 1st quarter 2004 GDP reached 109.3% to last year's
similar period, in the 1st half year 110.3%.
Belarus Creates Commission to
Establish National High-Tech Park
An interdepartmental commission for the establishment of the
National High Technologies Park was set up in Belarus.
The commission will submit to the Council of Ministers its
proposals regarding the creation of the Park by September 15.
The group is headed by Valery Tsepkalo, an aide to President
Alexander Lukashenko. The commission includes representatives of the
National Academy of Sciences, Ministry of Foreign Affairs, Ministry of
Economy, Ministry of Finance, Ministry of Communication, National Bank of
Belarus, Construction and Architecture Ministry, and Ministry of Industry
(23 members altogether).
Currently talks are held with EPAM Systems, IBA, SAM
Solutions, BelHard and other software producers regarding their
participation in the project.
Earlier, Tsepkalo said it was necessary to provide certain
tax preferences for the IT-companies to be registered in the Park.
Currently, an estimated 3,500 programmers in Belarus work for
exports, which reach U.S. $60-70 million a year. The Park is to allow
increasing exports of software to $850 million within four years.
Belarus MTZ Tractor Exports Up by
67.2%/yr in Jan-Jul to 18,869
The tractor exports of Belarus' state-owned tractor
manufacturer Minsk Tractor Plant (MTZ) increased by 67.2% in January-July to
18,869 vehicles.
Exports to Russia stood at 8,707 tractors in the period, up
109.1% on the year. Exports to other CIS countries, mostly to Ukraine and
Moldavia, increased by 120.8% in January-July to 4,949 tractors. MTZ expects
its exports to CIS to rise in 2004 due to the deterioration of agriculture
machinery there.
Exports to non-CIS foreign states amounted to 5,213 tractors
in January-July, up 6.8%, with Hungary, Lithuania, Latvia and Germany being
the main buyers.
Total tractor sales rose by 51.1% on the year to 21,019
units.
MTZ is one of the world's largest tractor makers and the
biggest tractor producer in the CIS. The plant has an annual capacity of up
to 50,000 tractors, including 10,000 tractors with the capacity of 100-200
hp. MTZ exports 85% of its output. Russia accounts for 50% of all MTZs
exports.
NBB Opens Tender to Choose Consultant
to Develop Accounting Standards
The National Bank of Belarus (NBB) announced a tender to
purchase consultative services to develop National Accounting Standards
(NAS).
Applications are accepted by August 31, 2004.
It is planned to introduce 19 NAS to switch to International
Accounting Standards. As of today, there are 11 standards in Belarus, and
four more will be effective from January 1, 2005.
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CULTURE AND SOCIETY
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Belarusian Athletes in Athens
On August 19, Belarusian athlete Ihar Makarau won Gold medal
in the men's judo half-heavyweight (under 100kg) finals after he defeated
South Korea's Jang Sung-ho.
President of Belarus Alexander Lukashenko warmly
congratulated Igor Makarov who scored Belarus' first gold medal at the 28th
Olympic Games. Apart from the $60,000 prize Igor Makarov will be awarded a
new apartment.
Belarusian weightlifters Hanna Batsiushka and Tatiana
Stukalava won Silver and Bronze medals. Anna Batiushko's lifted total
242,5kg on both lifts and Tatiana Stukalova's 222.5kg.
In the course of competition Hanna Batsiushka broke her own
world weightlifting record in the 139-pound (63kg) snatch, lifting 253 1/2
pounds (115kg).
On August 20, Sergei Martynov won the bronze medal in the
50-meter prone rifle competition.
Natallia Tsylinskaya took the bronze in the women's 500-meter
time trial finishing the two laps around the Olympic velodrome in 34.167
seconds.
On August 18, Belarusian athletes in shot put Andrei
Mihnevich (20.60 m) and Yuri Belov (20.34 m) took fifth and sixth places.
Nadezda Ostapchuk (19.01 m) and Natalia Khoroshenko (18.96 m)
won fifth and sixth places in shot put.
On August 14, Belarusian saber fencer Dmitri Lapkes beat in
quarter-final 4 times Olympic champion Stanislav Pozdniakov.Dmitri lost a
Bronze Medal Bout to Ukrainian Vladislav Tretiak.
On August 15, Belarusian weightlifter Vitali Dzerbianiou won
fourth place in men's 56 kg Final. Vitali, 28, experienced athlete, 2002 and
2003 Europe Champion, lost with a total of 280 kg. Turkish weightlifter
Sedat Artuc who won the third place also lifted 280 kg, but was just 43
grams lighter than Vitaly.
(You may find updated information about Belarusian athletes'
results in Athens at
http://www.belarusembassy.org/belarus/olympic/athens.htm).
On Opening of Childrens Cardiac
Surgery Center in Minsk
A unique cardiac surgery center for children will be opened
in Minsk in fall 2004 on the basis of the 1st Clinical Hospital, informed
the Ministry for Health of Belarus.
The new Center will reduce the number of children waiting for
surgery.
Annually, about 1,200 children are on the waiting list, and
only 500 of them are eventually operated on.
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