OREANDA-NEWS. Agribusiness industries should become of the major drivers of economic growth in Belarus in Q3 2014, Prime Minister Mikhail Myasnikovich said on August 6 at a government meeting, which focused on the country's economic development in H1 2014.

Agricultural production is supposed to become of the key drivers of economic growth in the country in the third quarter, Myasnikovich said. In his words, Belarus currently has all that it takes to successfully accomplish harvesting, take proper care of the crops gathered and earn decent incomes on the money invested in farm production.

Besides, Belarus should take the opportunity to disentangle the bundle of problems in farm production, Myasnikovich said with reference to the latest resolutions intended to reform state-owned farms and optimize funding.

As previously reported, Belarus plans to get rid of collective farms (kolkhoz), officially referred to as agricultural cooperatives, by converting them into open joint stock companies by December 31, 2016. Simultaneously, President Lukashenko adopted another three ordinances, which regulate the government's agrarian policy on support of agricultural production, credit support and procurement of agricultural produce.

Belarus reduced farm output 4.3% year on year in H1 2014.