Investments in Belarus’ GDP to reach 37% by late 2015

The share of investments in Belarus’ Gross Domestic Product should reach 37% by the end of 2015, said Vice Premier of Belarus Andrei Kobyakov at a panel session of the Fourth All-Belarus People’s Congress on 6 December.

According to Andrei Kobyakov, in 2005 fixed-capital investments amounted to 23% of the country’s GDP. In 2010 the figure will reach 32%. Yet it is acknowledged in the international practice that fixed-capital investments should make up at least 23-25% of the GDP for the country to build up production.

Speaking about the structure of investments in Belarus, the official said that in 2011 investments in housing construction will make 29%, investments in social programs and projects 18%, investments in new jobs 49%.

There are plans to create 1.1 million new jobs in Belarus in 2011-2015, including 220,000 jobs in industry, 96,000 jobs in civil engineering, and 639,000 jobs in services sector.

Within five years Belarus’ GDP is supposed to rise by 62-68%.

“In his speech at the Fourth All-Belarus People’s Congress on 6 December President of Belarus Alexander Lukashenko set new goals for the government, outlined new foci for Belarus’ development that we will take into account when we polish the program for Belarus’ social and economic development in 2011-2015,” said Andrei Kobyakov.

According to