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Up to 50% of investments to be spent on equipment in Belarus in 2012

MINSK, 27 December (BelTA) – Expenditures on machines and equipment should increase from 42-43% to 50% of investments in Belarus in 2012, Prime Minister of Belarus Mikhail Myasnikovich told a session of the Council of Ministers on 27 December, BelTA has learnt.

The Premier said that the Agriculture and Food Ministry, Forestry Ministry and Belgospishcheprom Concern have failed to fulfill investment targets for machines and equipment set for 2011. The head of government expressed confidence that the situation will change next year due to a number of reasons. “The President upheld the government’s proposal on tax stimuli for investment activity. This will help increase the investments in machines and equipment to 50% at the minimum next year,” the Premier said.

Mikhail Myasnikovich ordered to come up with a working system to monitor the state of efforts to implement instructions of the President and the government. The Economy Ministry was instructed to develop a matrix to evaluate the personnel performance at the beginning of January.

The head of government informed that additional projects have been included in the investment program. “We included major infrastructure facilities into the investment program,” he informed. They include a bypass highway around the Belovezhskaya Pushcha reserve; the construction of the road will significantly improve the ecological situation in the region. The construction of a bypass highway around Vitebsk and Grodno will be completed next year. The construction and repair of the M4 highway to Mogilev is also to be finished. “Apart from that, we have come up with financial schemes to renovate the highway to Gomel (from Minsk – BelTA’s note). The work will be financed by Chinese loans or loans of the World Bank,” he said.

Mikhail Myasnikovich added that in case Belarus gets additional revenues from selling state property and raising additional foreign direct investments, the government will ask the President to channel these funds into new investment projects.