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 In Belarus energy industry investors will be offered taxation preferences, First Vice Premier of Belarus Vladimir Semashko said at the IV international investment forum in Mogilev on October 9. In his words, the government has prepared two new energy industry bills meant to encourage investments into the industry. They grant taxation preferences for up to 7 years. Investors are expected to recoup their money within five years and use the remaining two years to develop their companies, said Vladimir Semashko.
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IN MAY INFLATION WILL NOT EXCEED 1%
 In May inflation in Belarus will not exceed 1%, Economy Minister of Belarus Nikolai Zaichenko said at a session of the Council of Ministers on May 27. According to him, in January-April the consumer price index was up 5.3% while the projections for 2008 are at 8%. Foodstuffs accounted for 2.6% of the CPI increase. Nikolai Zaichenko said that that was due to the raising prices for foodstuffs and energy. Over the four months this year inflation in Russia reached 6.3%, in Ukraine 13.1%.
According to Nikolai Zaichenko, the Economy Ministry will continue implementing the measures taken by the government to restrain inflation.
The Economy Ministry suggests raising the first category wage rate to Br94,000 in October, Economy Minister of Belarus Nikolai Zaichenko said at a session of the Council of Ministers on Amy 27.
This proposal of the Economy Ministry is currently being studied by the Finance Ministry and the Ministry of Labour and Social Security. This is going to be the first step on the way of reaching the goal which is to raise average wages to $700 in equivalent by 2010.
Nikolai Zaichenko said that increasing the wage rate is necessary for raising nominal average monthly wages to Br966,000 ($460 in equivalent) by the end of 2008. Real wages are expected to increase by 9.5%.
Real cash earnings were up 10.7% for the population in January-March. In January-February the growth was 12.9%. The reason is a higher than expected inflation. Real wages were up 8.3% countrywide.
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© 2005-2008 Staff of the Council of Ministers of the Republic of Belarus
No part of this information may be reproduced in any form without reference
Information support from the Republican Unitary Enterprise Belarusian News Agency
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 On October 7, Deputy Prime Minister of Belarus Andrei Kobyakov and First Deputy Chairman of Government of the Russian Federation Igor Shuvalov met in the Brest oblast to discuss the issues of further development of the trade and economic relations between Belarus and Russia.
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 In the near future Belarus and Ukraine intend to set up joint ventures in the engineering industry, First Deputy Prime Minister of Belarus Vladimir Semashko told reporters after the 15th session of the Belarus-Ukraine Intergovernmental Commission for Trade and Economic Cooperation in Kiev on October 7.
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 Belarus and Russia should coordinate their efforts in the economic area in the conditions of the global financial crisis, Prime Minister of Belarus Sergei Sidorsky said as he met with Russian Premier Vladimir Putin in the run-up to the session of the Union State Council of Ministers.
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 In 2008, the trade between Belarus and Ukraine will exceed $5 billion, First Deputy Prime Minister of Belarus Vladimir Semashko said. The First Vice Premier is the head of the Belarusian delegation at the 15th session of the Intergovernmental Belarusian-Ukrainian Commission for Trade and Economic Cooperation which is being held in Kiev on October 6-7.
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 Belarus is ready to carry out big projects with the participation of the European Bank for Reconstruction and Development (EBRD), Belarusian Prime Minister Sergei Sidorsky noted during his meeting with Varel Freeman, the EBRD First Vice President.
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 Many major projects in Belarus are implemented with the participation of Austrian capital and technologies, Deputy Prime Minister of Belarus Andrei Kobyakov said as he met with Johann Zaks, Director General for Foreign Trade Issues of the Federal Ministry of Economics and Labour of Austria, co-chairman of the Belarusian-Austrian committee on trade and economic cooperation in Minsk on October 2.
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 Enterprises producing biofuel will be set up in all the regions of Belarus, Belarusian Prime Minister Sergei Sidorsky told reporters.
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 On October 1, 2008, Belarus will down the crude oil export duty from $495.9 to $372.2 per tonne. The Council of Ministers issued relevant resolution No 1426 of September 27.
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 A multifunctional trade and logistics centre as well as administration and business and expo centres of the Republic of Belarus will open in Kazakhstan. Their opening was discussed at the fifth session of the Belarusian-Kazakh trade and economic cooperation commission in Astana. The Belarusian delegation was led by Deputy Prime Minister Ivan Bambiza, the Kazakh delegation — Emergencies Minister Vladimir Bozhko, the press service of the Foreign Ministry told BelTA.
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