OREANDA-NEWS. January 14, 2010. In 2009 the GDP growth rate reached 100.2%, the press service of the head of state quoted Prime Minister Sergei Sidorsky as reporting to President of Belarus Alexander Lukashenko, reported the press-centre of government.by. 

The Government has addressed all the issues in view of the effect of the anticrisis program. The measures taken were fully justified. The GDP reached the pre-crisis year level. Sergei Sidorsky attributed the result to the joint efforts of the entire economy.

In 2009 Belarus’ industrial output growth rate amounted to 97.2% as against 2008. In 2009 the processing industry, petrochemical and food companies improved their performance. The performance of the companies accountable to the Industry Ministry, which represent the most complicated part of the economy, stood at 77.3% as against 2008. The industry’s finished goods inventory shrank from 95% in mid-2009 to 68% as of 1 January 2010. The Prime Minister stressed that it is quite feasible to largely improve on the figure.

It is important that the industry’s profitability reached 10% while the GDP energy intensity was reduced by almost 6% in comparison with 2008.

Agribusiness demonstrated the best performance throughout the year, with the agricultural output up by 1.3%. The export shot up. Apart from traditional markets Belarusian foods were exported to Latin America, Southeast Asia, and Middle East.

In 2009 the civil engineering program was fulfilled, with around 6 million square meters of new homes commissioned.

In complicated economic conditions the government managed to take sufficient measures to balance import and export operations. In 2009 the export totaled more than 60% as against 2008. Import expenses were minimized as much as possible.

Social policy goals were met. Pensions, scholarships and welfare benefits were paid in full. All the state programs were financed in full. Last year’s budget has been fulfilled.

This year keeping the high economic development pace remains an important target. The Government and the National Bank have adopted a program that stipulates performance targets for every company along with macroeconomic targets as well as investment components.

The head of state was informed about efforts channeled into attracting investment resources into Belarus. The efforts will be considerably stepped up in 2010. In December 2009 the Government and the Eximbank of China inked a framework agreement that will enable Belarus to reach the maximum level of investment cooperation with China in 2010. The Chinese investments are expected to reach US5.7 billion.

Once again the President reminded that Belarus needs to tap into new unconventional markets to allow the national economy to develop fast. Work is now in progress in Latin America, the possibility of entering the African market is under consideration.