Belarus’ GDP growth to rely on exports in 2012

2011-11-09 18:15:37

GDP growth in Belarus will solely rely on exports next year, Deputy Economy Minister of Belarus Alexander Yaroshenko told the Council of Ministers on 8 November.

In his words, the state policy envisaged in the social and economic development forecast for 2012 is aimed at balancing the domestic and foreign trade out and eliminating the previously accumulated disbalances. “It means that GDP growth in 2012 will solely rely on the country’s exports,” he said. The growth based on the foreign demand will compensate the negative trends inside the country.

Alexander Yaroshenko stated that over the last five years the export had increased by only 5%. “The country would have posted trade deficit even if no consumer product had been imported and the technical re-equipment had been completely halted,” the official stated. One of the major goals for the country for the near future is to reach surplus in trade.