|
GDP in Belarus Grows 42 Percent in
2001-2005
According to the preliminary results of the Belarus economy,
announced by Premier of Belarus Sergei Sidorskiy, Belarus' GDP jumped 42
percent in 2001-2005.
Among the main achievements is that now Belarus produces
high-tech stuff in big amounts and exports 38 percent of it to the European
Union. The exports of the country rose by 2.5 times over the recent five
years.
The wages have considerably gone up recently from $70-80 per
month in 2000 to $250 per month in 2005.
In 2005 Belarus reported the lowest inflation rate – slightly
above six per cent.
1996-2005 witnessed two-time increase in GDP. The Government
targets to generate a three-fold GDP increase by 2010 as against 1996.
Beltransgaz and Gazprom Sign Contract
for Gas Delivery in 2006
JSC Beltransgaz, Belarus and Gazprom, Russia signed a
contract for gas delivery to Belarus and its transit across the territory of
the country in 2006. On December 27, 2005 the document was signed by Deputy
Chairman of Gazprom Alexander Ryazanov and Beltransgaz' General Director
Dmitriy Kazakov.
In line with the contract, in 2006 Gazprom will deliver 21 billion cubic
meters of natural gas to Belarus including 1.5 billion cubic meters if
technical opportunity occurs. The gas price and tariff for the gas
transportation will remain at the level of 2005. So, 1 thousand cubic meters
of gas will cost $46.68.
Monetary Policy of Belarus for 2006
Approved
President of Belarus Alexander Lukashenko signed decree #608
“On the guidelines of the monetary policy of the Republic of Belarus for
2006” on December 21, 2005.
The guidelines of the monetary policy for 2006 aim to protect
and ensure the Belarusian ruble stability, develop and strengthen the
banking system, extend and improve the quality of banking services, ensure
efficient, reliable and safe functioning of the payment system.
All instruments of the monetary management policy will be
used to meet the target on the Belarusian ruble exchange rate. Money supply
will be mainly increased through growing international reserves as the
National Bank will purchase foreign currency. The measure will help balance
the currency market and ensure the necessary dynamics of the Belarusian
ruble exchange rate.
The interest rate policy will be aimed at making loans more
accessible. By the end of 2006 the refinancing rate is expected to go down
to 8-10 per cent, provided the forecast inflation target is hit. Interest
rates of banking loans will also be decreased, while interest rates of
fixed-term deposits will slightly differ from the refinancing rate.
Government Approves Draft Budget Code
The Belarusian Government has approved a draft Budget Code of
Belarus. The discussion took place at a sitting of the Council of Ministers
chaired by Premier Sergei Sidorskiy on December 27, 2005.
Belarusian Finance Minister Nikolai Korbut noted, the Code
was developed to ensure a complete system-based approach to regulating the
legislative norms the budget process is based on. Unlike the existing budget
laws the draft document assigns special attention to local budgets and
relations between budgets. A separate chapter was assigned for the latter.
The adoption of the Budget Code will resolve several
important problems. It will increase the effective of legislative regulation
of budget process, systematize the budget laws, and unify the budget
legislation within the framework of the Belarus-Russia Union State, EurAsEC
and the common economic space.
The draft document was developed taking into account
cutting-edge experience of the CIS states and contemporary law-making
practices. Besides, the Budget Code will give an opportunity to implement a
budget planning concept aimed at reaching concrete goals. The concept is
meant to distribute budget resources in line with results reached.
The Budget Code includes a general part and a particular one.
The former includes 55 chapters regulating common issues of the Belarusian
budget system. According to Nikolai Korbut, the adoption of the Budget Code
will annul 12 laws and several by-laws
Belarus Gets Its First Syndicated
Credit
On December 20, 2005 in Vienna, Austria, Executive Director
of Raiffeisen Zentralbank Herbert Stepic and representatives of other banks
of the syndicate (Russia’s Vneshtorgbank, Belarusian Priorbank and others)
and Belarusian Economy Minister Nikolay Korbut signed an agreement on
allocating the eurocredit for Belarus worth of $32 million.
The syndicated credit was initiated by Raiffeisen Zentralbank
and granted to Belarus for the first time.
Belarus and Lithuania Sign Agreement
to Inform on Transit Goods
On December 22, 2005, Chairman of the State Customs Committee
of Belarus Alexander Shpilevskiy and Director General of the Customs
Department under the Finance Ministry of Lithuania Rimutis Klevecka signed
an agreement to inform the both sides on the goods and transport means
crossing the Lithuanian-Belarusian border.
Heads of the two customs agencies expressed their
satisfaction with the cooperation level between the countries. In 2005 the
transit goods crossing went up by 40 percent against 2004. The agreement
will reduce violations in the customs rules and increase the transit flow in
Belarusian and Lithuanian-Kaliningrad directions.
The two sides tend to improve the work of checkpoints, speed
up customs procedures and ensure security and transit attraction through the
Lithuanian-Belarusian border.
Minsk Automobile Works "MAZ" to Start
Exports to the EU market
The main producer of trucks and buses in Belarus Minsk
Automobile Works "MAZ" is completing the certification procedures of big
trucks in Poland in order to start first deliveries of the equipment to the
European Union' countries.
The company also intends to start supplies of low-floor buses
MAZ-103 and MAZ-107 to Slovakia. The presentation of the equipment in that
country is slated for the first half year of 2006. The agreement was reached
in the course of a visit of a delegation of the Slovak company SAO spol.
S.r.o. to Belarus.
To know more about "MAZ" and its products, please, visit:
http://www.maz.com.by.
Minsk Invites Foreign Companies to
Participate in Belarusian Industrial Forum on May 16-19, 2006
The largest industrial show in Belarus will take place on May
16-19, 2006 in the City of Minsk. To prepare the Forum the Government of
Belarus annually creates the Organizing Committee by the instruction of the
Premier. 2006 Forum will combine three large specialized exhibitions,
including 10th International specialized exhibition on Energy and Resource
saving, 9th International industry exhibition "BELPROMEXPO" and 7th
International Specialized Exhibition "Welding". 9th International symposium
"Technologies-Equipment-Quality" will also take place in the framework of
the Forum.
To get additional information about the Forum, please visit
the following address: www.expoforum.by. If interested in participation,
please apply to the economic office of the Embassy of Belarus in the US or
to organizers of the event by e-mail:
elena@expoforum.by.
|
