Government approves main targets of Belarus’ socio-economic development forecast for 2008

The Government passed Resolution No. 8 to approve the main targets of the socio-economic development forecast of the Republic of Belarus for 2008.
The document sets out annual and quarterly targets for ministries, concerns, committees, oblasts and city of Minsk in 2008. Achieving the targets will help implement the national socio-economic development forecast for 2008 approved by President’s decree No. 656 of December 18, 2007.
As BelTA has informed, in 2008 GDP is expected to grow by 8-9%. The industrial output is projected to increase by 8-9%, agricultural production by 7-8%. The manufacture of consumer goods is prognosticated to ramp up by 9-10%, including foods – 8-9%, nonfoods – 10-11%. In 2008 capital investments are expected to rise by 15-17%.

In 2008, Belarus is set to grow foreign trade in goods and services by 14.5-15.5%, including exports – by 16-17%, imports – by 12.5-13.5%. The trade deficit is projected at $1400-1420 million.

In 2008 real income growth is projected to make up 9-10% for the population. Retail trade is expected to go up by 10-11%, paid service – by 9-10%, labour productivity – 6.9-7.7%.

Profitability of sold products and services in the industry is expected at the level of 12-13%. The country seeks to reduce the GDP energy intensity by 7-8% next year.

In 2008, Belarus is set to construct 4.7-5.2 million square meters of housing. The employment volume will make up 4,460-4,535 thousand.