The government forecasts that the GDP will grow 10-11% in 2009-2010, First Deputy Prime Minister of Belarus Vladimir Semashko told a press conference in Minsk on August 1.

“We have approached the point when further GDP growth is impossible if we do not put in operation additional capacities, manufacture new products,” Vladimir Semashko said. According to him, it is necessary to increase an inflow of capital investment. “Capital investment is not the end in itself. It is the means to maintain high GDP growth: at 10-12% annually. In 2009-2010 we project the same rate of economic growth,” the First Vice-Premier said.

In addition, Belarus has been implementing the innovation development programme which is aimed at creating hundreds of companies which also requires an inflow of investment.

In January- June 2008, capital investments in Belarus were up 23.9% over H1 2007. Foreign investments were up 2.8 times. Over the six months a total of $233.4 million was put in fixed capital from foreign sources.

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