In 2014 Belarus intends to secure the highest GDP on record — $72 billion. Prime Minister of Belarus Mikhail Myasnikovich made the statement at the ceremony held on 1 July to honor prominent Belarusians, BelTA has learned. The head of government said that in January-May 2014 Belarus' GDP totaled $27 billion while at the year end the figure will be highest on record — $72 billion or over $150 billion in terms of purchasing power parity. The fact that Belarus has reached these figures has to do a lot with efforts of those Belarusians that the prime minister awarded on behalf of the president of the country on 1 July. “However, constantly moving forward is as important as reaching high figures,” noted Mikhail Myasnikovich. It is impossible to accomplish without science and innovations, new technologies, and know-how. Therefore, the government vigorously encourages modernization and innovation-driven development. Without it the national economy will not be able to grow and will even lose what it has, stressed the Prime Minister. “It's like riding a bicycle: in order to stay competitive, you have to pedal all the time and move without stopping,” he said. “Investments in new technologies, equipment, and factories represent the essence of our economic policy”. In the current five-year term Belarus has invested over $65 billion in fixed capital. The figure is as large as the country's annual GDP. “So instead of consuming we have spent one of the three GDPs created in the current five-year term on development. And the money needs to bear profits,” noted Mikhail Myasnikovich. The Prime Minister mentioned several important tasks, which are being addressed or which the government has yet to address. In particular, in the near future the cost of credit resources is supposed to go down. It will allow returning interest rates on the market to their normal values. The key conditions to make it happen have been created already: as much as $2 billion in foreign currency has been transferred to the state budget and the gold and foreign exchange reserves, a surplus of proceeds and payments in the export and import of commodities and services has been secured for five months in a row. A surplus in foreign trade has been secured, too. Thus, the head of government underlined, stability will be secured in the economy and the currency market.
Written by belta.by
