BELARUS NEWS AND ANALYSIS

DATE:

10/08/2007

Belarussian foreign trade deficit could be $1-$1.6 bln in 2008

MINSK. Aug 10 (Interfax) - Belarus's foreign trade deficit could be $1 billion-$1.6 billion in 2008, the Economics Ministry said in a social and economic development forecast for 2008.

Belarus will have a foreign trade deficit of $1.02 billion if foreign trade grows 12.7%-13.7%, including a growth of 14.1%-15.1% for exports and 11.3%-12.3% for imports, a source in a profile agency told Interfax.

A trade deficit of $1.5 billion-$1.6 billion is forecast based on an increase in foreign trade of 13.4%-14.4%, including a growth of 15.2%-16.2% in exports and 11.7%-12.7% in imports.

The Economics Ministry estimates that GDP could grow around 7.5%- 8.5% in 2008 compared to the 8%-9% envisioned in the social and economic development forecast for 2006-2010.

Economics Minister Nikolai Zaichenko said earlier that he is not ruling out that the economic growth forecast for 2008 could be adjusted in regard to the parameters approved in the five-year program.

The government's forecast for economic growth in 2007 envisions a foreign trade surplus of $500 million-$600 million. The forecast was drafted and approved without factoring in a doubling of gas prices and the introduction by Russia of export duties on oil for Belarus starting in 2007.

Source:

http://www.interfax.com/3/301752/news.aspx