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Economy
11 August 2022, 10:49

Belarusian economy ministry: GDP trend is likely to change in August

MINSK, 11 August (BelTA) – The country's GDP trend is projected to change in August, Belarusian Deputy Economy Minister Dmitry Yaroshevich told the media as he commented on economic development forecasts and the instructions given at the recent meeting of the Council of Ministers hosted by the head of state, BelTA has learned.

According to the deputy minister, the GDP growth is projected at the level of about 95% in January-July. “Such pace of economic development has been expected. It is related primarily to the restructuring of export supplies and shifting of harvesting terms by 8-9 days. If over 45% of the grain and leguminous crop areas were harvested by 31 July last year, this year the figure is slightly more than 20%. This means that the bulk of the gross yield of grain will fall on August. Its volume will increase by 20% compared to last year, which will contribute to the growth of the agricultural output and GDP in general,” he said.

The real sector continues to adapt to current conditions, including the “reshaping” of business ties and processes, the deputy minister stressed. “According to our forecasts made on the basis of constant monitoring of the situation, a reversal of the negative trend is expected at the end of August. An intensified pace of the harvest campaign, higher yields, an effect from the decisions taken to support the economy and the revival of business activity will have a positive impact on the country's GDP,” Dmitry Yaroshevich stressed.

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