OREANDA-NEWS. October 07, 2010. The Government of Belarus issued Resolution No 1418 to revise upward some social and economic targets for 2010.

The Government passed the document to make sure that the social and economic targets for 2010 set out by Decree of the President of Belarus No 595 of 7 December 2010 are met.

The industrial production growth target has been revised from 10-12% up to 13% as compared to 2009.

The Industry Ministry is expected to ensure that the industrial growth should reach 18% instead of the earlier 15-17%. The Ministry of Agriculture and Food is expected to ensure the production growth target at the level of 12% (10-12%), the Ministry of Construction and Architecture at the level of 11% (9.5%-10.5%).

The organizations affiliated with the Ministry of Agriculture and Food are projected to increase the output by 10% (10-11%).

Retail is projected to increase by 18% (14-15%). The government also introduced the targets in terms of the volume of services for legal entities and individuals (for organizations of all forms of ownership, regardless of subordination). The ministries and concerns have been set out new targets regarding the reduction of material intensity of products.

The targets in terms of the volume of construction and assembly operations have been revised upward for the ministries, concerns, oblast executive committees and Minsk City Hall.

In accordance with the resolution, the government bodies need to make sure that subordinate (affiliated) organizations and other business entities, in which the Republic of Belarus or administrative unit has shares (shares in statutory funds) and may have influence on the decisions made by these economic entities, and also the organizations, who use government financial support, are notified about these revised targets. Government bodies need to adopt and implement a set of additional measures to make sure these targets are achieved.