BELARUS NEWS AND ANALYSIS

DATE:

01/08/2007

Belarusian Premier Says One-Third Of Economy Is Loss-Making

Prime Minister Syarhey Sidorski said at a government conference in Minsk on July 31 that "one-third of the economy" in Belarus is actually unprofitable, Belapan reported. Sidorski said the share of unprofitable enterprises now amounts to some 17-18 percent of the total number in the country, but added that among large companies subordinated to the Ministry of Industry loss-making ones account for 31 percent. "If small economic entities, cafes, and other food services providers are not taken into account, we'll see a generally bad situation behind the aggregate figures," Sidorski noted. The same day, the Ministry of Statistics and Analysis reported that Belarus's foreign-trade deficit in the first six months of 2007 increased by 93 percent compared to the first half of 2006, reaching some $1.8 billion. Russia's share in Belarus's foreign trade increased as well, reaching 48.3 percent. Belarusian experts link the recent increase in Belarus's foreign-trade deficit to a decrease in Belarus's re-exports of refined Russian oil, following the imposition by Russia in December 2006 of a duty of $180 per ton of Russian crude exported to Belarus. JM

Source:

http://www.rferl.org/newsline/2007/08/3-cee/cee-010807.asp