GDP in Belarus is in the Ascendant, Inflation on the Decline

In 2002, Belarus recorded the lowest rate of inflation for the last 12 years, Belarus's Prime Minister Gennady Novitsky said on Friday.

Addressing a meeting of the inter-state council of the Eurasian Economic Community /EurAsEC/, he also pointed out that last year the republic's GDP grew by 4.7 per cent, production output by 4.5 per cent, and farm produce by 1.5 per cent.

According to Novitsky, the period saw elimination of the main price disproportions. The average monthly rise in consumer prices was 2.5 per cent.

This year, the premier indicated, Belarus is reforming property, transforming large enterprises into joint stock companies.

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Author`s name: Editorial Team