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18 January 2024, 14:12

Deputy minister reveals key drivers of Belarus’ economic growth in 2023

MINSK, 18 January (BelTA) – Commenting on Belarus’ economic performance in 2023, Deputy Economy Minister Andrei Kartun told reporters about the main drivers of the country’s economic growth, BelTA has learned.
 
According to Andrei Kartun, the main drivers of economic growth in Belarus last year were manufacturing, construction and trade.
 
The manufacturing industry grew by 7.7% in 2023. “This growth mostly came on the back of mechanical engineering. The output of a number of products was the highest in the past five years. As for household appliances, the production and sales of television sets and microwave ovens were above the five-year average,” he said.
 
The construction sector grew by 10.6% in 2023, the deputy minister informed. Over the past year, the volume of contracting and construction works increased.
 
The 8.5% increase in retail trade was largely attributed to the rapid growth of real household income, which boosted the purchasing power of people, added Andrei Kartun.
 
According to the deputy minister, most sectors of the domestic economy are in a growth zone. In general, “in 2023 Belarus’ economy fared better than the economies of its main trading partners with the country’s economic growth exceeding the world average, which is 3%,” he added. 

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