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10 November 2022, 19:58

Belarus government, central bank keep working to enable conditions for sustainable economy growth

MINSK, 10 November (BelTA) – The government and the central bank keep working to enable conditions conducive to sustainable growth of the economy. Belarusian Deputy Economy Minister Dmitry Yaroshevich made the statement as he delivered a report at an expanded-participation session of the Board of the National Bank of the Republic of Belarus (NBRB), BelTA has learned.

According to Dmitry Yaroshevich, restorative dynamics is taking shape in the Belarusian economy despite unprecedented external pressure. The workload of enterprises, employment, and salaries are on the rise. The average sale profitability in the economy equals 8.9%. The number of loss-making organizations and the level of the debt burden are at a seven-year low. The official attributed the accomplishments to adapted logistics and profitable sales on markets of friendly countries. “In January-September we intend to get a record-high trade surplus, the best one over the last ten years. The improving financial state of organizations guarantees their uninterrupted work while the inflow of foreign currency keeps the financial market stable to a large degree,” he remarked.

The current situation requires smooth and effective work of all the government agencies and economy branches, the deputy economy minister stressed. The government and the central bank keep working to enable conditions conducive to sustainable economic growth. “In turn, we expect the banking system to take concrete reciprocal steps. Demand for goods of Belarusian make has been rising lately. It is necessary to support the trend. A number of core banks already offer loans for buying Belarusian gods. The rest should also develop this kind of business. I'd like to also ask banks to support investment endeavors of the real sector as much as they can. The country needs a powerful manufacturing foundation more than ever,” Dmitry Yaroshevich pointed out.

“All of us understand perfectly well that financial stability is as important as economic growth. The measures being taken will give an impulse to the economy and will bolster financial stability,” Dmitry Yaroshevich concluded.

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