22 May 2015, Friday, 19:04

Prakapovich gave mission for private business for five years

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Private business in Belarus in the next five years should produce 50% of GDP.

The 2013 targets related to the increase in the labor productivity and earnings per one employee will be met, Deputy Prime Minister of Belarus Piotr Prakapovich said at the session of the Council for Entrepreneurship Development held in Dzerzhinsk on 23 August, BelTA has learnt.

“The major indicator of economic growth is the increase in labor productivity. We are going on as planned in terms of workforce productivity and earnings per one employee. These targets will be fulfilled,” Piotr Prakapovich said. 

The 2014 projections are based on the plans for the five-year period, Piotr Prakapovich said answering journalists’ questions.

Piotr Prakapovich remarked that by 2015 private business will provide at least 30% of the GDP. The goal has been set by the head of state, at present the share of small and medium business in the GDP exceeds 20%.

Speaking about raising the role of private business in the national economy, the Vice Premier underlined that upping the private business share to 50% does not mean that other forms of ownership will be reduced. Major industrial enterprises will also develop at a fast pace. “We are working to that effect. The role of small and medium business will only grow stronger in the future. Private sector should pioneer the assimilation of new technologies and modern administration methods,” stressed the Vice Premier.

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