The problem of the negative trade balance, which exists today in Belarus, according to Prime Minister Sergei Sidorsky, is associated with rising energy prices. "We planned $150 gas price for 2010, while it is already — $210 now. And the whole economy needs to work out," the head of the Belarusian government said and added that "it's necessary to look for reserves."
According to Sergei Sidorsky, Belarus has increased its purchase of oil in $1.2 billion in 2010. «We proceeded from the fact that we’ll obtain both oil and gas in accordance with our agreements this year. Arrangements were changed to some extent, and, having received less oil for recycling, we have, naturally, lowered the volume of deliveries of oil products for export this year,» the Prime Minister said, CTV.
«We had to take drastic active solutions to increase exports of traditional products. In general, plus 18% over the whole economy of the country is little, compared with last year. We have orientated our traditional economy to higher rates of economic development. We understand that there will be less oil, but how to earn more currency? We’ve increased exports of traditional commodities: machinery, trucks, tractors, glass products, construction. Plus 35-37% compared with last year,» Sergei Sidorsky said.
«And we get Br340 million of trade surplus every month this year in favor of exports. In addition, there’s potassium. The decline has has slowed on the potash market this year; prices are rising, and there we also add Br600 million in exports of potassium,» Prime Minister noted.
«But again, we’re short of a billion, which is be found in the economy. So we add in the products that can support the economy — services. In services, we have nearly one billion of surplus. We have carried more goods through our country, as well as outside the country; attracted the currency, which is plus another billion in the balance,» the head of government said.
«And we put hope, of course, on the investments. There have been more than $6 billion of investments in the first nine months of this year, as well as $1.5 billion of direct investments — all this offsets trading and foreign exchange balance of the country. By the way, we have created 185 new companies from scratch in this five-year period, which have begun to supply exports. We’ll construct about 230-250 new export-oriented businesses with low material consumption, low power consumption and high added value in our country in the next three to four years,» Sergei Sidorsky said.
