Belarusian GDP Increased 8.1% 1Q
OREANDA-NEWS. April 12, 2011. Belarusian gross domestic product (GDP) increased 8.1% on the year in the first quarter, Economy Minister Nikolai Snopkov said at a briefing.
Industrial output increased 11.5% on the year, and labor productivity went up 7.2%.
According to Snopkov, import-to-GDP ratio is expected to go down to 64% in 2011 to 68% in 2010. He said the key task for the real sector was to raise exports while cutting imports.
Also, small and medium-sized business should be involved in the economy on a broader scale, as the potential of SMEs is as high as that of foreign investors, the minister added. IMF experts believe SMEs may double or treble
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