Government eager to raise SME share in Belarus’ GDP past 50%

         The share of small and medium business in Belarus’ GDP should be at least 50% by the end of the next five-year term. The statement was made by Vice Prime Minister of Belarus Piotr Prokopovich in Zhlobin. According to Piotr Prokopovich, the participation of the private sector in the development of the national economy has been steadily rising in the last few years. In 2013 the SME share in the gross domestic product will be 24%. Next year it is expected to reach 27%. By the end of the current five-year term the government intends to raise the figure up to 30%. “On the whole, we are managing to achieve the goal, however, today’s entrepreneurship development levels leave much to be desired,” he remarked. The development of small and medium business is not a goal by itself for the government. The efforts are explained by the need to employ the workforce that will be released thanks to the ongoing vigorous modernization of industrial enterprises. “Besides, we obviously do not have enough Belarusian commodities and Belarusian services to satisfy the nation’s demand in full. Salaries of Belarusians are constantly rising, more money is available, but Belarus-made products are in short supply,” said the Vice Premier.