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FEDERATION OF EURO-ASIAN STOCK EXCHANGES ANNUAL REPORT APRIL 2011
BELARUSIAN CURRENCY AND STOCK EXCHANGE
ECONOMIC AND POLITICAL DEVELOPMENTS
Belarus’ Gross Domestic Product
Belarus’ Gross Domestic Product grew by
7.6% in 2010 to a total of Br163 trillion.
In 2010 Belarus’ industrial output went up
11.3% (the targeted increase was set at 10-
12%) to reach Br161.9 trillion. Belarus’
consumer goods output amounted to Br35.7
trillion, 13.1% up on 2009. The consumer
goods output was supposed to go up by 14-
15% in 2010.
In 2010 investments grew by 16.6% to reach
Br54.2 trillion.
Refinancing Rate of the National Bank is
10.5%.
Belarus’ foreign debt
As of 1 January 2011 Belarus’ foreign debt
was $9.7 billion. The domestic debt was about
Br 32 trillion.
Foreign public debt indicators show that
Belarus belongs to a group of countries with a
low debt level (according to standards
recommended by IBRD)
On the Development of Entrepreneurial
Initiative and Encouraging Business Activity
in the Republic of Belarus Directive
On 31 December 2010 Belarusian President
Alexander Lukashenko signed Directive No. 4
“On the Development of Entrepreneurial
Initiative and Encouraging Business Activity in
the Republic of Belarus”.
In essence, that is a program of measures
aimed to liberalize entrepreneurial initiative,
create conditions for a robust and vibrant
growth of the Belarusian state. The profound
and systemic steps provided by the Directive
make it the most important legal act
streamlining economic liberalization among
those adopted in the country in the past years.
The Directive includes nine sections, each of
them comprising a set of concrete measures
to boost economic competitiveness, lift
groundless barriers still rife in the business
environment. The sections are entitled as
conceptual systemic requirements for all
bodies of state governance, public
associations and citizens of Belarus:
1. Ensure the continued development of fair
competition between businesses, regardless
of ownership.
2. Create conditions for unimpeded
entrepreneurship.
3. Eliminate excessive administrative barriers
as the governmental bodies and legal entities
and citizens interact.
4. Complete the harmonization of the Belarus
taxation system with those operating in the
European countries. Make the tax legislation
encourage the bona fide exercise of tax
obligations and entrepreneurial initiative.
5. Make the controls (supervisory activities)
precautionary dominated by preventive
measures employed to prevent crimes in the
business activities.
6. Improve infrastructure and funding of small
businesses to enhance entrepreneurship and
ensure efficient support of business (legal,
logistical and financial).
7. Eliminate excessive regulations in the labor
market.
8. Create a legal base encouraging the
development of public-private partnerships in
the Republic of Belarus.
9. Ensure unambiguous legal regulations and
stable legislation regulating entrepreneurship.
The state policy of the Republic of Belarus
The main principles our state policy is guided
by are plan-based approach, consistency,
gradualness, and continuity.
The plan-based state policy results in a stageby-stage
improvement of the people’s living
standards.
The Belarusian model of socio-economic
development aims to improve the existing
economic basis and combines the advantages
of market economy and efficient social
protection. Belarus is not only a highly
developed industrial country but it also has a
considerable agrarian component.
Strong and efficient state power, political
stability in our country are the essential
conditions for a policy line geared towards
evolutionary and progressive development of
the national economy, towards further
integration into the world’s economy.
The consistent state policy aims at developing
integration processes between Belarus and
CIS countries and other states of world
community.
In the sphere of culture and public life the
state supports historically developed bilingual
policy, revival of spirituality and preservation of
traditional religious confessions, arts in all
forms.
The state follows the consistent policy on
preservation of cultural heritage of Belarusians,
the best Belarusian character features such as
respect for people of other nationalities and
faiths, patience, tolerance, humanism,
peacefulness.
Presidential elections 2010
Alexander Lukashenko won the presidential
election in Belarus that took place on
December 19, 2010 with 79.67%. 5 130 557
votes out of 6 444 776 were submitted for
Alexander Lukashenko's nominee that made
90.65%.
The inauguration ceremony of newly elected
President of the Republic of Belarus was held
on January 21, 2011 where Alexander
Lukashenko declared that Belarus will continue
realisation of the multivector foreign policy
based on a priority of national interests, and
also Union State building, strengthening of
integration communications within the limits of
Uniform economic space, EvrAzES, the CIS,
and other transnational formations.
He underlined that ‘we will achieve as much as
possible cooperation good results as with
Russia, Ukraine, China, Venezuela, other our
strategic partners, and the European Union,
the USA and all states of the world
community’.
Information obtained from the Exchange.
Key Information Contacts
Official Website of Belarus www.belarus.by/en/
President of Belarus www.president.gov.by/en/
Ministry of Economy www.economy.gov.by/en/
Ministry of Foreign Affaires www.mfa.gov.by/eng /
National Investment Agency www.invest.belarus.by/en/
Belarusian Telegraph Agency (National Source of News) www.belta.by/en/
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