On February 7, Minsk / Olga Belyavskaya - BELTA /. In the absence of labor productivity growth, heads of enterprises and government bodies in Belarus will not receive bonuses, Prime Minister Mikhail Myasnikovich stated today at a meeting of the Council of Ministers, as reported by a BELTA correspondent. "I propose to record our decision: in the absence of labor productivity growth, bonuses and incentives for the management of enterprises, as well as government bodies, shall not be paid under any circumstances," the Prime Minister said. He recalled that one of the main tasks set for the current year is the growth of the population's income. The government must ensure its fulfillment on a qualitative basis by creating new and modernizing existing jobs, and only in the strictest connection with labor productivity. Mikhail Myasnikovich recalled that in the current year, the purchasing power of the population should be restored in Belarus, and inflation should sharply decrease. The basic conditions for this are effective monetary and currency policies. "The money supply should correspond to the gross product created, and the exchange rate should be determined by supply and demand," he emphasized. "These principles will be strictly implemented in 2012 and beyond. Any desire to receive something during the year beyond what is provided and agreed upon is excluded." Resources and capital are needed for the modernization of the economy, the Prime Minister noted. "There is little money within the country, and it is objectively expensive. We calculated: with a minimum investment requirement of $15 billion in 2012, our banking system can provide no more than a third, and at high interest rates," he stated. "Enterprises and the budget also lack their own sources. Their total volume for investment purposes is estimated at $8 billion for the year." External borrowing will create problems in subsequent years, therefore the most important task is to attract foreign direct investment to Belarus. -0-

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