Belarus’ major development targets for 2008 approved

The most important parameters of the next year's social and economic development guidelines of Belarus have been approved. The President of Belarus signed corresponding decree No 656 on December 18, the press service of the head of state told BelTA. The basic GDP growth target is set at 8-9%, which corresponds to the targets outlined by the 2006-2010 national social and economic development programme. However, in order to fulfil the head of state’s instructions concerning the mobilisation of the national economy the government and the National Bank have been commissioned with working out a set of additional measures aimed at raising the effectiveness of the national economy and securing its dynamic development for the sake of reaching the GDP growth as high as 10-11% in 2008. With a view to securing sustainable economic growth and improving living standards of Belarusians the following most parameters of the national social and economic development guidelines for 2008 have been specified. The growth of the industrial output in comparable prices as against 2007 is expected to stand at 8-9%, agricultural output — 7-8%. The production of consumer goods is expected to swell by 9-10%, with foods output up by 8-9%, non-foods output — 10-11% up. In 2008 fixed-capital investments are supposed to increase by 15-17%. In balance of payment terms the overseas trade in goods and services will grow by 14.5-15.5%, with export up by 16-17%, import — 12.5-13.5%, with the foreign trade deficit as large as $1,400-1,420 million. Real money incomes of the Belarusians are supposed to gain 9-10%. The retail trade turnover should increase by 10-11%, the volume of chargeable services to individuals — 9-10%, labour productivity — 6.9-7.7%. The profitability of the industry’s sold products, works and services is expected to stand at 12-13%. The energy consumption of the gross domestic product is to be reduced by 7-8%. In 2008 there are plans to commission 4.7-5.2 million square metres of housing. The number of people engaged in the economy will make 4,460-4,535 thousand.