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19 Sep 2017

Confidence in Belarusian economy’s ability to reach targeted GDP figure

MINSK, 19 September (BelTA) – The Belarusian economy will be able to reach the targeted gross domestic product (GDP) figure this year, BelTA learned from Belarusian Economy Minister Vladimir Zinovsky on 19 September.

“We should definitely fulfill the commitments undertaken by the government — GDP as high as 101.7%. Now the figure stands at 101.6% but it doesn’t mean it cannot go lower, for instance, in agriculture. Civil engineering may demonstrate small growth. We should reach 101.7%. Hitting 102% or more would be even better,” said Vladimir Zinovsky.

The official stressed that the Belarusian economy is recovering step by step. “Certainly, not everything is satisfactory for us. Civil engineering, financial status of enterprises, the lack of floating assets slow down the growth of the economy,” explained Vladimir Zinovsky.

The official stated that at present the share of small and medium private enterprises in Belarus’ GDP is close to 28%. The adoption of the package of documents meant to liberalize business operation terms will help increase the figure. “We intend to raise it all the way to 40%. Business liberalization will lead to a large contribution of the private sector to the GDP,” noted the official.

 

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