OREANDA-NEWS. December 14, 2011. Belarus’ President Alexander Lukashenko has challenged the government’s analytical team to finalize the macroeconomic forecast for 2012 by mid-December, making sure the GDP growth target is set at 5-5.5%. The president voiced that instruction on November 22 following a Tuesday conference which tabled proposals by the government and the central bank to optimize the forecast, the budget plan and money-crediting guidelines for 2012.

The president informed that the prime minister had presented a draft forecast with GDP growth expected at 105-105.5%. According to the president, these documents should be taken as a basis.

“Optimize those documents. Keep fine-tuning them to make them right on the assumption that the GDP should grow by 5-5.5%. The prime minister knows my instructions, so you start making calculations. If someone disagrees and cannot follow those guidelines, it is OK with us; we will find you another job.”

Referring to other forecast indicators for 2012, Myasnikovich mentioned plans to reduce expenditures on consumption and gross capital formation. Furthermore, the government plans to abandon emission credits.

The premier sees exports grow 10.6% in 2012 assisted by accelerated industry growth, which is supposed account for 34% of the GDP. Export proceeds in 2012 are expected to reach USD 7.5 billion.

Next year Belarus is expected to build 5.7 million sq metres of housing, including 2 million sq metres funded by soft loans.