OREANDA-NEWS. August 03, 2010. In the next five-year term Belarus will focus on foreign direct investments and using the potential of industrial enterprises. The intention is laid down by the documents meant to guide the national economy development in 2011-2015, Prime Minister of Belarus Sergei Sidorsky told President of Belarus Alexander Lukashenko.

According to the press service of the Belarusian Head of state, in 2011-2015 the Government intends to raise the GDP growth rate up to more than 160% as against the current five-year term. There are plans to vigorously develop the industry, agribusiness and investments.

Sergei Sidorsky said that it is a fact that enterprises need to renew technological means and processes. It will be done using foreign direct investments, more vigorously promoting their privatization. The Government and the International Monetary Fund have agreed that five enterprises will be put up for auction. In the near future a list of enterprises that are subject to accelerated development in the next five-year term will be submitted.

The President was also informed about the state of readiness of the next year’s social and economic development forecast and the next year’s budget bill. The figures are balanced taking into account the tasks set by the President with a view to developing the national economy in the near future, which is 2011 and the next five-year term.

Sergei Sidorsky said that in H1 2010 the Government did a lot to reduce inflation rate. While in January-June 2009 inflation stood at 7.3%, in H1 2010 the figure amounted to 4.1%. This year’s inflation is supposed to be under 10%.

Spurred by last year’s crisis, Belarus has expanded the number of markets that Belarusian commodities are sold on. In H1 2010 export went up by 27-29% in comparison with the same period of last year while import edged up by only 12-15%. In H1 2010 Belarus reduced import by \\$500 million in comparison with the same period of last year. In 2013 there are plans to reach a balance of import and export and to ensure a foreign trade surplus later on. More efforts should be put into import substitution to make it happen.

The Head of state was informed that in H1 2010 3.2 million square meters of new homes was built. This year’s target is set at more than 6 million square meters of housing, next year’s – 9.1 million square meters. Focus will be made on building social housing, reducing the number of people on the waiting list.

By the end of the year investments are supposed to increase by 20% in comparison with 2009. Sergei Sidorsky said, there are all reasons to make it happen. The President was informed about the completion of the 2007-2010 innovation program. During this period 185 new enterprises were built in Belarus while 343 existing enterprises were modernized.

Sergei Sidorsky also said that more ambitious goals for the innovative development of the economy are planned for the next five-year term. The indicator “the share of innovative products in the total exports” will be introduced. The Government believes it will encourage Belarusian manufacturers to improve their performance and turn out more competitive products.