Reserves for export, modernization available in Belarusian regions

– Reserves are available in Belarusian regions for raising export and accelerating the pace of modernization of manufacturing industries, BelTA learned from Lyudmila Dobrynina, Chairwoman of the Budget and Finance Commission of the House of Representatives of the National Assembly of Belarus. Representing Orsha city electoral district No. 26, she commented on the most important targets of the social and economic development forecast and the major monetary management guidelines for Belarus for 2014.

In 2014 the gross domestic product is expected to rise by 3.3%, labor productivity (when measured against the gross domestic product) will rise by 6.9%, with the export of merchandise and services up by 8.6%.

Now members of the House of Representatives of the National Assembly are working in their electoral districts. “First of all, let’s consider whether these targets can be hit from the point of view of the regions. It should be noted that the number of new small and medium enterprises is on the rise. It means that there are reserves for increasing the pace of the GDP growth, labor productivity, and for raising the competitive ability of our products,” stated the MP. As an example she mentioned Orsha District, which, she noted, makes a tangible contribution to the development of Vitebsk Oblast.

The MP stressed that the major macroeconomic parameters of the social and economic development forecast and the major monetary management guidelines are balanced, weighted, and rather feasible taking into account peculiarities of the development of the global economy, the economic situation in Belarus, its domestic and foreign markets.

Lyudmila Dobrynina characterized the investment appeal of the regions in light of the Belarus government’s intention to raise $4.5 billion in FDI on a net basis.

“The necessary base, including the legal one, has been created for it. Last year the pace of foreign investment inflow rose in the regions and the country as a whole. I think the year 2014 will be exemplary in this regard,” said the MP. The foreign trade surplus is expected at 0.1% as against the gross domestic product. Lyudmila Dobrynina underlined that it will be achieved through export growth, which in turn will be fuelled by the modernization of manufacturing facilities and the stronger competitive ability of products.