Belarus Not to Fulfill Annual Investment Plan, Ministry of Economy

31.12.2010 13:00
Архив Редакция

The volume of capital investments in Belarus will increase by 13% -14% in 2010 compared with 2009, while the forecast for the year was 23-25%. This was told by the Head of macroeconomic analysis and forecasting of the Ministry of Economy of Belarus Alexander Yaroshenko. According to him, the economic recovery has been slower, than predicted by experts, not only in Belarus but also worldwide.

Nevertheless, Alexander Yaroshenko believes that Belarus has made «very significant results compared with other countries» in this regard, BelTA informs.

About Br46.2 trillion of investment in fixed assets has been allocated for the economy development in January-November 2010. Despite this, according to Alexander Yaroshenko, the Ministry of Economy is not entirely satisfied with qualitative content of investment.

«Investing should be more directed towards the acquisition of machinery and equipment — in the active part of productive assets, which is currently reduced and is less than 40%. We believe that this is not enough to sustain future economic growth in Belarus,» the expert stressed.

Belarus Not to Meet GDP Growth Plan in 2010, Ministry of Economy

Belarus is not able to reach the planned level of GDP growth. According to an estimate of the Ministry of Economy, GDP growth will be around 7.4% at the end of 2010 against the planned indicators of 11-13%.

Alexander Yaroshenko says that the failure to reach the planned figure is due to objective reasons, including failure of the growth rates in agriculture. «I must note that a 102% indicator, as we estimate the growth of agricultural production in Belarus, in view of the climate anomalies this year, is also a very decent figure, because we’ve been able to adhere to the previous year, though not as much as we’ve predicted,» the expert said.

Inflation is less than 10% in 2010, Ministry of Economy

Speaking about the level of inflation in 2010, Alexander Yaroshenko said that the planned threshold (8-10%) was not exceeded. According to him, inflation will be less than 10% over the year, given the fact that it has remained at 8.9% level for 11 months.

According to the main directions of monetary-credit policy, inflation is projected at 7-8% in 2011.

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