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25 February 2022, 17:18

Council of Ministers hosts conference to review Belarusian economy operation

MINSK, 25 February (BelTA) – A session of Belarus' Council of Ministers was held on 25 February to discuss the economic situation and the availability of essential goods to the population, BelTA has learned.

Members of the Council of Ministers, heads and representatives of ministries, the central bank and other banks, the regional administrations, representatives of retail chains and organizations accountable to the central government, including the state petrochemical concern Belneftekhim, the timber, woodworking, pulp and paper industry concern Bellesbumprom, and the state light industry concern Bellegprom, met to discuss current economic problems.

First Deputy Prime Minister Nikolai Snopkov explained: “The purpose of the meeting is to primarily get a feel of the situation in the regions, to find out how the current events have affected the operation of the real economy and the consumer market situation.” He stressed that representatives of the regions had been specifically invited to come to Minsk in order to present the real state of affairs in person. Nikolai Snopkov said: “I'd like the regions to present a clear report that specifies problems and ways to resolve them. You and I will decide on daily control and interaction later on.”

It was noted during the meeting that the closure of the Odessa port in Ukraine has become a problem for a number of Belarusian enterprises since many goods were shipped via the port. “Unpleasant but solvable,” the first deputy prime minister responded to that. “The regional administrations report they are working with the enterprises to find alternative routes for importing various goods. There may be a pause of 7-10 days before other logistics routes are worked out. One cannot say it is easy. It is complicated but we are working on it, directors of the enterprises are working on it in order to adequately, promptly, and effectively respond to the new conditions.”

On the whole, an analysis of the choice of products Belarus imports from Ukraine indicates it contains no critical goods. All of them can be replaced, including on the home market.

As for the consumer market, buying frenzy was registered in all the regions on 24 February as people rushed to buy goods, which people driven by emotions tend to buy in case of a war, such as matches, salt, oil, cereals, and tinned food. “There is no frenzy today. Retailers have sufficient supplies of these goods that can last for 12-46 days. If necessary, Belarusian manufacturers have ample supplies of these goods,” Nikolai Snopkov stressed.

After the conference Nikolai Snopkov stated that as a matter of principle Belarus can satisfy the domestic consumer demand for all the necessary goods in sufficient amounts. The fact once again confirms the correctness of the chosen way of development of agribusiness. A shortage of critical imports such as individual kinds of fresh fruits and vegetables may occur. “But I think this issue will be resolved by adjusting the logistics,” he said.

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