May (2), should (2), must (2), cannot, can

 

1. The Belarusian construction materials sector ___ benefit from the construction boom.

2. The two companies ___ be transformed into a single corporate entity because they operate in the same processing chain.

3. This means local authorities ___ have had all the documents approved and are now ready to draw up the lists of the companies.

4. Under the Investment Code, compensation of the value of nationalized or requisitioned property ___ be equal to the market value of the property determined under the procedure established by the President.

5. The rate of profit tax comprises 50% of the commonly applicable rate (currently 24%) and in any event ___ exceed 12%.

6. If deciding to run a business in Belarus via a representative office, one ___ take into account that any activity is always conducted by the office on behalf of the foreign company.

7. A foreign citizen ___ be appointed a Director/ member of the Board of Directors in any LLC.

8. National taxes and duties are established by law and ___ be paid through Belarus.

 

5. Open the brackets and use the verbs in proper passive form.

1. Within the past few years, several large-scale projects (announce) in Belarus. However, no modern logistics complexes (build).

2. Aggregate investments in the project (plan) at US$ 140 million.

3. In 2007, the largest transaction (complete) in the Belarusian Telecommunications sector.

4. 70% of GDP still (produce) by state-controlled enterprises.

5. International appraisers, especially the Dutch ABL AMRO, (engage) to evaluate NAFTA and Polymer soon.

6. In early 2008 the first list of objects offered for concession (approve) by the Belarusian Government.

7. A CJSC (not allow) to offer its stock for public subscription.

8. The rate of profit tax comprises 5%, unless more favourable conditions (set) by international agreements.

FOCUS ON FUNCTIONS

Describing economic changes

1. Study the figures in the table below. Speak about the changes in key economic indicators over the 2001-2008 period using the following phrases:

Going up	Going down	No change
to increase by …% to rise from … to … to improve rapidly to grow substantially to go up step by step to take off to shoot up	to fall steadily to drop slowly to decline gradually to go down slightly to fall off dramatically to decrease to lessen	to remain stable, to level off, to stay at the same level to continue to be to go on as

SPEAKING

1. Give your opinion concerning the following challenges to the Belarusian economy:

- The major threat to the stability of the Belarusian economyin the short-term and medium-term perspective is a price hike of energy resources supplied by the Russian Federation. Preferential terms and conditions of supplies and the existence of a formal trade union agreement between two countries were the key drivers of recent favourable Belarusian economic growth.

- One of the key problems of the Belarusian economy is a high intensity of power consumption. Growing costs of output produced by Belarusian enterprises amplify problems they face on the Russian market. The growth of the Russian economy and the consequent household income growth in Russia both lead to a changing character of competition on this market. Belarusian goods occupy a specific niche 'for the poor' of the Russian market.

- Between 2007 and 1H2008, Belarus took a significant step forward in liberalizing the economy and improving the investment climate. Increasing FDI attractiveness was set as a priority by the President. Several important presidential decrees and government resolutions have been adopted concerning improvement of the investment and business climate. These include abolition of the "golden share" right; gradual abolition of the ban imposed on trading securities acquired during preferential privatization; announcement of the first list of enterprises to be privatized.

 

2. Comment on the following quotations from the speeches of the President of the Republic of Belarus. Support your comments with facts and arguments.

1. “The use of the latest technologies, priority development of science-intensive branches, import-substituting and export-oriented productions are the main avenues Belarus will move along” (March 3, 2006)

2. “Belarus has been growing much faster in recent years comparing to the CIS and EU countries. However, it is only innovation in all spheres that can ensure further progress. Facilitating innovation, upgrading production and improving labor efficiency are the main targets for the future ” (May 23, 2006 ).

3. “It is in small towns and villages that we see enormous unexploited potential for the development of the country” (November 23, 2006).

4. “In terms of universal cooperation Belarus is very promising a country. We have no foreign debts, we have low inflation, we have- this is very important- diligent people; the economy functions intensively; we manufacture competitive goods. We are always able to earn money for the budget ” (January 22, 2007).

5. “Today it is the West, the EU that occupy the first place in trade and economic cooperation with Belarus, then goes Russia. We have deliberately sought not to be dependent on one country and we have been honest about it when diversifying our foreign policy and economy” (April 24, 2007).

6. “It is only by joint efforts and discipline that the Belarusian people can ensure economic security of the state, progress and prosperity of our independent Belarus” (June 14, 2007).

7. “The world financial and economic crisis teaches us to act quickly. It is important that having assumed such a great responsibility we should not slow down the process of economic integration but should demonstrate cohesive and well coordinated work ”(November 27, 2009).

 

3.  Render the main idea of the following text in English.

СОЦИАЛЬНАЯ ПОЛИТИКА

Главной целью социальной политики в республике является предоставление каждому трудоспособному человеку возможности своим трудом и предприимчивостью создать свое семейное благосостояние, а для нетрудоспособных и нуждающихся граждан - обеспечить надежную социальную защиту. При этом социальная защита должна быть исключительно адресной и направлена на конкретные, самые незащищенные группы и слои населения.

Международный опыт стран с переходной экономикой показывает, что эффективные системы адресной социальной помощи в состоянии обеспечить поддержку лишь 10-15% населения.

Особое внимание уделяется в республике жителям сельской местности, которые острее других ощущают жизненные трудности: неразвитость социальной инфраструктуры, транспортных услуг, бытового обслуживания.

Поставлена задача осуществлять работу по введению государственных социальных стандартов по всей стране с обязательным учетом региональных особенностей. Введение социальных стандартов направлено на то, чтобы уровень социальной защиты гарантированно улучшался.

Приоритетной задачей государства в области социальной защиты является забота о семье, детях, в частности, обеспечение необходимых условий для реализации семьей ее экономической, воспроизводственной, воспитательной и культурно-психологической функций; обеспечение прав детей на их полноценное физическое, интеллектуальное, нравственное и социальное развитие.

WRITING

1. Write a letter to your penfriend telling about your last visit to your native town or village and describing your favourite sight there.

2. Read the following text, entitle it and then write an abstract of its contents.

In 2008, the Belarusian government approved of a list of 519 state-controlled companies subject to privatization by way of share issue with further sale of stakes in 2008-2010, and a list of 147 open joint stock companies with state stakes to be sold in 2008-2010. The government approved the lists by its resolution dated July 14, 2008.

Among the 176 state-run companies to be privatized as early as 2008 are Minsk Motor Plant (MMZ), Minsk Automobile Plant (MAZ), Termoplast plant, Vavilov plant, Belgaztechnika, Baranovichi auto component plant, Rogachev-based Diaprojector plant, Promsvyaz, Belarusian ocean company, NIIEVM, 558th aircraft repair plant in Baranovichi, Borisov medications plant.

Belarus plans to privatize 213 state-owned companies in 2009, including Gomselmash, BeIAZ, Minsk Wheeled Tractor Plant (MZKT), Vityaz, Agat-Sistem, Belgosproject institute, Electronica plant, Gomeltransneft Druzhba, Novopolotsk-based Druzhba oil transport company, Tsvetotron, Giprosvyaz, Transaviaexport air carrier, and DORORS trading company with Belarusian Railway.

In 2010, it is planned to privatize Minsk P.M. Masherov automated lines plant, Minsk research institute of radio materials, Orsha flax factory, Belavtostrada, Minsk electromechanical works, Baranovichi cotton factory, amongst others.

The list of open joint-stock companies in which shares will be sold in 2008-2010 includes Gomelsteklo, Kolas printing factory, Minsk Bearings Plant, Glubokoe cannery, Brest carpets, Svitanak, and Barkhim.

The government ordered state authorities to submit to the State Property Committee proposals as to the size of state stakes in enterprises on the list that will be sold to investors, as well as mechanisms to sell them. Local administrations will have to indicate conditions for auctioning state enterprises and present their statements of affairs as of 1 January 2008.

The State Property Committee will be using the proposals to draft presidential instructions to sell state stakes in open joint-stock companies by 1 May 2009 and 1 May 2010.

The original list, including 240 companies, had to be coordinated with 26 state agencies, but the government dismissed it, because to transform all enterprises subject to reform under presidential decree #7 in just three years was too short a time.

Since privatization started in 1994,1,097 state-owned enterprises have been denationalized. Most of these were transformed in the mid-90s. Privatization was virtually suspended in the late 1990s. The change in ownership patterns quite often failed to replace the owner. Most denationalized enterprises were turned into open joint-stock companies - 911 of 1,097, including 362 companies in which the state retained stakes exceeding 75%, 72 companies with state shareholdings between 50% and 75%, 117 companies with state stakes between 25% and 50% and 84 businesses with state-controlled shareholdings below 25%.

Only 310 companies were free from state control. The rest of the 1,097 transformed companies were denationalized .

2. Write an essay of about 200 words presenting your forecast for the future of the Belarusian economy.

SUPPLEMENTARY READING

Text 1

1. Read the extract about the recent developments in the Belarusian economy.