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In 2008, investments in Belarus projected to grow by 25%

In 2008 investments in Belarus are projected to grow by 25%, Prime Minister of Belarus Sergei Sidorsky said at a session of the Council of Ministers.

Attracting investments is the main issue of the Belarusian economy. This especially pertains to direct foreign investments, Sergei Sidorsky said. Capital investments account for 24.6% of GDP. This is a good showing but we need to build it up, the Prime Minister said. By the end of 2007 the growth of investment has slowed down since the beginning of the year (20-25% early in the year, 15% - at the end of 2007).

The Prime Minister also informed that $1 billion worth of direct investments was attracted in 2007 ($530 million last year). $3.8 billion was invested in the real production sector this year. “This is a good result but we need to achieve better results”.

The Prime Minister also spoke about housing construction reminding of the target of 4.7 million square meters of new housing in 2007. The city of Minsk is not coping with the task. the capital city constructed 58% of housing for those who need better housing while the target is 71%.

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