The results of the country’s socio-economic development in the first three months of 2007 and the tasks in implementing this year’s major prognosticated parameters were discussed at a meeting held by the President of the Republic of Belarus, Alexander Lukashenko, on May 11. Participating in the meeting were the country’s high-ranking officials, top officials of the Presidential Administration, representatives of various ministries, agencies, important organizations and backbone banks.

The beginning of the current year was marked by a sharp rise of prices for energy resources and that is a great ordeal for the entire national economy.

The President pointed out that, generally, Belarus’ economic performance in the first quarter had been stable. He underscored that the GDP growth had been around 8.5 percent compared to the respective period of the prior year. Investments to the fixed capital have grown by more than 30 percent. Overfulfilled are the prognosticated indicators for retail trade turnover and paid services, for real monetary incomes of the population, labour productivity and for some other items.

At the same time, Alexander Lukashenko noted that the need to hold the meeting had arisen because of the negative trends which became manifest this year. According the President, the most alarming tendency is a certain fall in efficiency of economic management and decline in the growth rates of production. The performance of a number of sectors of the national economy has worsened. Eight out of nineteen prognosticated parameters have not been reached in the first quarter of 2007. So, although the government says with confidence that the situation will be rectified, there is still a serious pretext for the thorough analysis of the state of affairs in the economy.

Despite the difficulties, the economic policy of Belarus must continue to be socially targeted, demanded the Head of State.