OREANDA-NEWS. February 13, 2012. Belarus appears to be short of USD 10 billion in internal resources to sustain economic development in the country in 2012.

Belarus’ Premier Mikhail Myasnikovich made a statement to that extent on the Day of Belarusian Science on January 27, the government’s press-service reports.

The premier accentuated the point that Belarus is lacking in financial resources to facilitate innovations. To promote economic development Belarus requires some USD 15 billion, however the resource base of the real sector and the banking system is evaluated at some USD 5 billion, the premier said.

Budget revenues and business companies’ proceeds are only high enough to ensure simple reproduction, Myasnikovich said.

In that context, the only source of funding for economic development, according to the premier, is direct foreign investments into new production projects and privatization of state property.