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19 September 2022, 15:26

Call to cement positive trends in Belarus' economy

Yuri Chebotar. An archive photo
Yuri Chebotar. An archive photo

MINSK, 19 September (BelTA) – It is necessary to consolidate the emerging positive trends in the Belarusian economy, First Deputy Economy Minister Yuri Chebotar said commenting on the GDP dynamics in January-August 2022 to a BelTA correspondent.

According to Yuri Chebotar, despite the external sanctions, the economy began to show signs of gradual recovery. “In January-August 2022 GDP stood at 95.1%, up 0.3 percentage points compared to January-July. As expected, the major driver of this growth was good performance in the agricultural sector. A good yield of grain and rapeseed, an increase in poultry and milk production allow us to count on solid performance in this sector in September as well,” he said.

Another equally important contributor to the recovery is the efficient operation of real sector enterprises. Revenue increased by 10.3% over January-July 2021, profit from sales by 21.9%, net profit by 6.5%. It is noteworthy that in January-July 2022 the growth of revenue outpaced the growth of prime cost by 0.9 percentage points (110.3% and 109.4%, respectively). Such results largely helped to build a foreign trade surplus of more than $2.8 billion. This inflow of foreign currency gave the economy an additional margin of safety, the Economy Ministry noted.

“The implementation of the comprehensive plan to support the economy is expected to further consolidate the emerging positive trends, which will make it possible to use growth reserves in other sectors, primarily in industry and transport,” the first deputy minister emphasized.

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