Stanislau Bagdankevich’s forecast: either Privatization or Debtors’ Prison :: Charter'97 :: News

Economy Minister of Belarus Mikalai Zaichanka predicts the Belarusian positive payment balance of USD350 million in 2008 with the envisaged 1.4 billion deficit of international trade. ”The payment balance in 2008 is expected to be established with USD 350 million proficit”, Mikalai Zaichanka declared at the sitting of the Council of Ministers when the draft forecast of socio-economic development of Belarus for 2008 was considered. It was Stanislau Bagdankevich, former chairman of the National bank of Belarus, who agreed to comment on the forecasted indicators to the Charter’97.

“Actually such performance is fairly feasible .Such positive payment balance of USD350 along with the failed international trade is attainable only through wide-scale privatization of the advanced enterprises of the Belarusian industry or sharp growth of Belarusian economy crediting by Russia, China, Iran and Venezuela. In the first case the state power will have to change it viewpoint on the economy, in the second case it will result in sharp increase of the country’s debt. I am not aware of the program for attaining the next year payment balance proficit available with Sidorsky “, Stanislau Bagdankevich comment on the forecasts spoken of at the sitting of the Council of Ministers.

“We are to draft a corresponding program in consideration of the direct investments to come. If we are to work for attaining this balance we must discover the sources for the international trade deficit compensation”, the Prime Minister said.

In 2007 the economy ministry has reportedly forecasted the USD 2.1 million dollars deficit of international trade.