MINSK, 18 May (BelTA) - The Economy Ministry expects construction and investment to grow in the first half of the year, Belarusian First Deputy Economy Minister Yuri Chebotar told the media ahead of a session of the Council of Ministers, BelTA has learned.
"Today we are reviewing the performance of the economy in Q1. We already have some data for 4 months. There is sustained economic growth. The stocks in industry are the lowest in recent times. If we look at economic sectors, half of them work in the positive territory. Some 30% are in the negative territory but we see that the trend is positive and they will be in the black at the end of the half-year,” Yuri Chebotar said.
According to him, there are certain issues with construction and investment. "The dynamics are still negative, but we expect that the situation will start to change in May and will record certain growth in H1. It is in construction and investment that we, together with regulators, need to work out additional measures to improve the situation. We are also working with the regions on this. We have identified the main areas that can generate growth. First of all, it is the state investment program for 2021. We will urge the executing agencies to increase the pace of utilization in H1. We are monitoring 79 large investment projects with investments of more than $30 million,” Yuri Chebotar noted.
Belarus ensures balance in the economy and stability in the foreign exchange market, Yuri Chebotar stressed. “Although the National Bank has recently raised the refinancing rate, there have been no significant fluctuations in interest rates in the economy. At present, the lending rate is around 11.9%,” he said.
“The country also maintains social stability. The salary averages over Br1,300, up by 14% in nominal terms and by around 5% in real terms. Most importantly, the average salary in the public sector was 80% of the country's average. The unemployment level did not rise and more Belarusians entered the workforce,” Yuri Chebotar said.
