Belarus's GDP growth in 2010 will be no lower than 11% - Ministry of Economy

July 27, Minsk /Olga Belyavskaya - BELTA/. Belarus' GDP growth in 2010 will be no less than 11%. This was stated today at a meeting of the Council of Ministers by Economy Minister Nikolai Snopkov, according to a BELTA correspondent. "Achieving the necessary growth rates in GDP-forming sectors, full implementation of systemic decisions adopted by the government, including program products adopted by sectors, will ensure GDP growth rate of no less than 111% in 2010 and fulfillment of the forecast parameters for 2010," the minister said. In addition, the five-year program targets will be met, with the exception of imports of goods and services, the share of foreign investment in the total volume of investment, and the dynamics of the average annual resident population. According to Nikolai Snopkov, to achieve the set tasks, successfully complete the year and the five-year plan as a whole, it is necessary to ensure the fulfillment of established targets for wage growth, primarily by reducing costs in the real sector of the economy, attract investment resources in the planned volumes and use them effectively. In addition, it is necessary to reduce material intensity both in the country as a whole and in key sectors of industry, agriculture, and construction. According to the minister, it is also necessary to ensure the fulfillment of targets for the step-by-step strategy for the trade balance of goods and services, and to improve the financial condition of enterprises, primarily by eliminating external overdue accounts receivable.