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Belarus President urges stable economy growth without inflation in 2012

MINSK, 16 December (BelTA) – The government should secure steady non-inflationary economy growth in 2012. President of Belarus Alexander Lukashenko issued the instruction at the permanent seminar for executives of national and local level government agencies held on 16 December to discuss import substitution as a vital factor for achieving balanced development of the Belarusian economy.

The head of state remarked that all the conditions necessary to fulfill the task are available. Matters concerning long-term gas deliveries from Russia have been addressed. Matters concerning oil deliveries are about to be.

Alexander Lukashenko said that serious strategic arrangements with partners from CIS and non-CIS states had been reached. Following the relevant instruction of the president the government and the National Bank have put together a national social and economic development forecast for the next year.

In 2012 the GDP is expected to grow by 5%. The figure is balanced with the necessary resources. It is a response to those, who criticize the state economic policy in Belarus and abroad, stressed Alexander Lukashenko. “I believe that the parliament will have a look at it in the near future,” said the head of state.

He remarked that after the main indicators of the forecast are approved, performance targets should be assigned to industries and regions. “We will make officials answerable for their fulfillment every quarter,” said the President.

“It is important to note that economic development will rely on sources that don’t threaten the existing balance of the national economy. Everyone understands it,” said Alexander Lukashenko.