OREANDA-NEWS. May 04, 2011. It is time for serious structural reforms of the Belarusian economy, said Vice Premier of Belarus Anatoly Tozik at a seminar of heads of nationwide coverage media on 29 April.

 “I believe our economy cannot continue successfully developing and requires serious structural reforms,” said the Vice Premier. In his words, it is necessary to implement major economic reforms in Belarus while preserving and enhancing the present political system. “My experience of working in China confirms it: many Southeast Asia countries have achieved colossal success in economy only thanks to a strong political authority,” he remarked.

 Anatoly Tozik said that the past five-year term was a period of hardships for Belarus and the time to recognize the need for transforming the economic model. The financial and economic crisis has demonstrated that the economic model Belarus has built is able to secure the country’s development. Meanwhile, this model is in need of improvement. “We had to do our best to survive the period and we did it. The period made us rethink the situation. It prompted us towards the need for major changes,” said the Vice Premier.

 In particular, the Vice Premier remarked that Belarusian manufacturers had started losing their competitive edge on foreign markets. Belarusian enterprises have been affected by growing prices for energy resources. “We have to stop living outside our means the way we lived in recent years, consuming 10-13% more than we manufactured. We cannot develop normally if we don’t secure the competitive ability of our products”.

 Anatoly Tozik remarked that securing a foreign trade surplus by the end of the current five-year term is one of the most important tasks. It will be necessary to secure considerable GDP growth, double the export of commodities and virtually triple the export of services. Serious tasks have been set as far as the attraction of foreign investments, including FDI, is concerned. According to the Vice Premier, if these arch difficult economic tasks are accomplished, it will allow securing proper living standards in Belarus in the European context.