MINSK, 4 May (BelTA) - The Belarusian industry is expected to turn the corner from recession to growth by the end of the year, Belarus' Deputy Prime Minister Vladimir Semashko said when speaking at the plenary session of Belarusian Industrial Forum, BelTA has learned.
“For a long time our industry had been showing good results, but in the past three years it was struggling. In Q1 we had 95.7% of the previous period. But it should be noted that from month to month the industry added 1.5%. Therefore, there is hoping that we will meet the year's target and thus pull out recession,” Vladimir Semashko said.
Talking about the causes of the downturn in the industry, the Vice Premier noted that the external factors had an impact. “Belarus is a country with an open economy and depends on external factors. However, the subjective factors played a role too. Among them are the mistakes and shortfalls of the enterprises themselves,” Vladimir Semashko noted.
Belarusian Industrial Forum is running in Minsk from 3 to 6 May. Attending the forum are more than 200 exhibitors: leading representatives of all sectors of the domestic and foreign industries. The forum will have a busy business program: roundtables, conferences, presentations on the most pressing issues of the industry. At least 30 long-term agreements are expected to be signed during the forum.
