Lukashenko put invoice to Russians

Dictator says about big debt entities of the Russian Federation for the Belarusian enterprises.

"Since the beginning of the year overdue accounts receivable have gone up by 30%, with overdue accounts payable up by 32.5%. It is considerably higher than the inflation rate in this period, - stated Alyaksandar Lukashenka. - The main debtors are still economic entities in the Russian Federation. Besides, the overdue debts of the Russians have surpassed the debts of Belarusian enterprises [to Russian partners] two times over. It is abnormal that we, who have considerably less financial resources than Russia does, credit economic operations of our partners. By the way, we are doing it not only in the Russian Federation".

He underlined that the lack of own resources and high borrowing costs slow down investment efforts. He said the situation in the regions was alarming: “I have to admit that the governors fail to pay attention to the development of the real sector. Investment efforts are weak”. For instance, only Vitebsk Oblast and Minsk Oblast have managed to hit the targeted gross regional product growth. Vitebsk Oblast did it primarily thanks to the petrochemical industry.

Salary of $ 500

Governor also confirmed plans to raise the average salary to the equivalent of $500 by the year-end. Real cash earnings of households will increase by 17.5% and the real salary by 21.5%.

"However, we are no longer happy with these results, because some problems impeding the country’s progress still persist," - Lukashenka said.

Belarus might fail to meet four out of twelve most important targets set for 2012, including the number one target - GDP. GDP growth rate now makes about 103%, instead of the projected 105.5%.

Prakapovich will deal with import substitution

"Prokopovich has been returned to active duty at the top level and he has been entrusted with the task. It is his prime task. He has to examine modernization aspects of each and every enterprise, verify the availability of a concrete plan aimed at manufacturing top level products. This is my instruction to him, it has been forwarded to the government, - remarked Lukashenka. - If we fail to upgrade our enterprises, fail to start manufacturing modern products, there is no place for us here. By 2015 we must reach at least $60,000 in proceeds per employee. It is a concrete indicator. You cannot play with it".