Russia will extend a $2bn stabilisation loan to Belarus, Finance Minister Alexei Kudrin said October 21, inform the news agencies. “Last week Russia took a decision to extend a $2bn loan to the Republic of Belarus,” he said. The funds will be transferred in two tranches. $1 billion will be given this year, another $1 billion in 2009,” he said. Finance Minister of Belarus Andrei Kharkovets is in Moscow for a meeting of the finance ministers of the CIS member states, BelTA learnt from...

High professionalism, strong morale and comradeship in arms of the Belarusian military were demonstrated during the exercise Autumn 2008, President of Belarus Alexander Lukashenko said on October 21 at the firing range Domanovo, where the complex operative exercise of the Armed Forces of Belarus ended. Alexander Lukashenko remarked the exercise confirmed the correctness of the chosen directions of the Armed Forces development. “The key goal of the Autumn 2008 exercise has been reached,”...

The new memorial in Trostenets should become a true pan-European memorial, said President of Belarus Alexander Lukashenko in his speech at the memorial Yama on October 20. In the years of occupation one of the world’s largest death camps Trostenets, where the Nazi murdered hundreds of thousands of people, including Europeans, was located not far from Minsk. “We decided to create a monumental memorial in Trostenets. I am sure not only Belarusians but volunteers from all over the world,...

In January-August, Belarus’ foreign trade in goods and services reached $55.3 billion, up 55.1% over the same period of 2007, the National Statistics Committee of Belarus told BelTA. Belarus’ export went up by 55.4% to $26.6 billion, import grew 54.8% to $28.7 billion. In January-August, Belarus posted a $2097.7 million worth of deficit in foreign trade. In 2008, the foreign trade deficit is projected at the level of $1400-1420 million. The deficit of the merchandise trade amounted to...

The amount of preferential loans to be granted to individuals in 2009 for building homes is supposed to increase by more than 40% in comparison with the figure expected in 2008, the press service of the President of Belarus quoted Chairman of the Board of the National Bank of the Republic of Belarus (NBRB) Piotr Prokopovich as reporting to President of Belarus Alexander Lukashenko on October 17. Piotr Prokopovich assured the amount of regular housing loans for individuals will also be...

The Parliamentary Assembly (PA) of Belarus-Russia Union State granted an observer status to Abkhazia and South Ossetia. The decision was passed at the 34th PA session on October 17, BelTA informs. The parliaments of Abkhazia and South Ossetia addressed the Parliamentary Assembly with relevant requests. When asked whether providing an observer status contradicts to the fact that Belarus has not yet recognized Abkhazia and South Ossetia, Chairman of the PA foreign policy commission Nikolai...

In January-August 2008, Belarus traded with 175 countries worldwide. The country exported to 135 states and imported from 160, BelTA learnt from the National Statistics Committee. Belarus’ major trading partners were Russia (48.7% of the total trade), the Netherlands (8.3%), Ukraine (7%), Germany (4.5%), Poland (4.1%), Latvia (3.3%), Great Britain (2.4%), China (2.2%) and also Brazil and Italy. According to the Committee, over the eight months 2008, Belarusian exports to Russia were up...

The global financial crisis may have mid-term consequences for the economy of Belarus, Deputy Economy Minister Tatiana Starchenko said at the IX international scientific conference Forecasting and State Regulation of Social and Economic Development in Minsk on October 16. The financial market, including the stock exchange market, is insufficiently developed in Belarus so far. The fact considerably decreases the possible influence of the global financial crisis on the Belarusian economy,...

The Belarusian Investment Forum in London will gather more than 400 participants, First Deputy Minister of Economy of Belarus Piotr Zhabko told a press conference on October 15. According to him, the goal of the forum is to discuss the possibility of an open dialogue between representatives of the Belarusian Government and business circles and the international financial and business elite. According to Piotr Zhabko, the investment forum will include two parts. The first part is the...

There are plans to attract over $7 billion of foreign investments into the Belarusian economy, First Deputy Economy Minister of Belarus Piotr Zhabko told a press conference on October 15. In his words, in H1 2008 foreign direct investments amounted to $1.23 billion. “It is virtually equal to the amount of foreign direct investments received in 2007 and three times as much as in 2005,” noted the First Deputy Economy Minister. In 2005 Belarus’ economy attracted $1.8 billion of foreign...