MINSK, 6 February (BelTA
) - Social and economic performance of Belarus in 2011 and targets for 2012 will be considered at a meeting of the Council of Ministers on 7 February, BelTA learnt from the government press service.
Despite the slowdown in the main macroeconomic performance in H2 last year, general stabilization was ensured by the end of 2011 following the government economic measures. High growth at the beginning of the year made it possible to ensure the 5.3% GDP growth in 2011. Gross regional product increased in all oblasts and in Minsk it was above the forecast.
The main contributors to the GDP growth were industry and trade. Contribution of the construction industry reduced as housing construction slowed down. The most notable result of 2011 was the growth in foreign trade and in the share of export in manufacturing industry. On the whole, out of 15 critical parameters six were achieved in 2011. Industrial production went up by 9.1% from 2010, the share of shipped innovation product amounted to 17.4%, well above the target of 12-13%. In January-November 2011, return on sales made up 12.8% in industry and 9.9% in agriculture. Exports of goods and services surged by 57.9%, deficit of foreign trade in goods and services made up minus 3-4% of GDP.
The growth of capital investment slowed down by the end of the year as the government launched the domestic demand compression policy, optimized financing for state programs and cut budget expenditure for these purposes. In general, Br90.8 billion of capital investments was spent on the socio-economic development of the country, which was up 13.3% from 2010 in comparable prices and which was below the target of 16-17%. Investments to acquire machines, equipment, transport vehicles increased by 19.6% as against 2010 to account for 44.2% of total investment. Last year Belarus raised Br9.3 trillion in investments from foreign sources, taking into foreign loans. Their share accounted for 10.3% of total investments.
In 2011 revenues of the national budget, according to the preliminary data, made up Br54.2 trillion, or 106.1% of the adjusted annual plan. This is 1.8 times more than last year. Budget expenditure amounted to Br51.6 trillion, or 99.6% of the adjusted annual plan.