OREANDA-NEWS. August 23, 2007. In 2008 Belarus’ GDP is projected to increase by 7,5-8,5% in 2008, Economy Minister of Belarus Nikolai Zaichenko has said today at a session of the Presidium of the Council of Ministers which considered most important parameters of the forecast of socio-economic development of the country and a draft law on the 2008 budget, reported the Official website http://www.government.by.

According to him, in 2008 the industrial output is expected to increase by 7-8%. This is the maximum Belarus can expect bearing in mind this year’s energy price hike. Moreover, the main investment projects aimed at upgrading production facilities will be implemented in 2008. The Economy Minister believes that the industrial output will considerably increase in 2009-2010.

The agricultural production will surge by 6.5-8%, capital investments – by 15-17%. Real cash incomes of the population will grow by 8-9%.

Inflation is projected to stand at 6-8% in 2008. The Economy Ministry suggests including the inflation parameter in the list of the most important targets of Belarus’ socio-economic development forecast.

By the end of 2008 the refinancing rate will be reduced down to 7-9%; bank loan rates – 10-12%.

According to the minister, the main goal of the 2008 forecast of socio-economic development of Belarus is to continue improving the well-being of the population through achieving stable economic growth, consolidating positive tendencies of economic development, modernizing the national economy and adapting it to the new terms of supply of energy carriers.