Economy Minister: 10% Increase in Belarus’ GDP in 2008

Belarus’ GDP will grow by at least 10% in 2008, Economy Minister of Belarus Nikolai Zaichenko said on May 7 as he met with veterans and participants of the Great Patriotic War, former employees of the BSSR State Planning Committee.

“Nowadays Belarus is implementing ambitious economic programmes. The annual GDP growth has averaged 9.7% over the last four years. It is a very high figure. Over the three months of 2008 Belarus’ GDP has grown by 10.5%,” he said. The official added, they are making forecasts for 2009 and calculating the development of the national economy in 2010-2011.

“We pay a lot of attention both to existing production facilities and their modernisation and to setting up new production facilities, including those in non-conventional economy sectors,” said the Minister. All of them should become a solid base for improving living standards of Belarusians. In the future there are plans to “substantially increase pension support for our veterans”, noted Nikolai Zaichenko.

By 2010 the average monthly salaries in Belarus are supposed to reach an equivalent of $700. It can be reached only through increasing the output of products, which enjoy demand on the international market, believes the Economy Minister.