6 December 2007
Belarusian economy suffers no shock as energy prices soar, Mikhail Myasnikovich says
The Belarusian economy suffered no shock as energy prices almost doubled, Chairman of the Presidium of the National Academy of Sciences of Belarus /NASB/ Mikhail Myasnikovich said in Minsk on December 6 during a scientific seminar. “The country successfully passed through that period and performance of the economic sector in 2007 is a testimony to this fact. The conditions will be even more dreadful in 2008 and 2009 and economic entities should realise that,” Mikhail Myasnikovich stressed. According to the NASB Chairman, in the near future world prices for energy carriers are not projected to increase; in 2009-2011 they even may drop a bit. However, in line with the agreements concluded with Russia Belarus will be paying higher prices for energy resources till 2010. Thus, the country will be in a worse situation than other states. Bearing in mind the necessity to work in the open market in the future, the Belarusian economic entities will have to exert every effort to withstand world competition. They will have to continue implementing new technologies, reducing material capacity, etc.