MINSK, 12 August (BelTA) – Belarus will soon see a high investment activity, BelTA learned from Director of the Institute of Economics of the National Academy of Sciences of Belarus Denis Mukha.
The recent Council of Ministers meeting chaired by Belarusian President Aleksandr Lukashenko to discuss economic operation under the sanctions, was a significant event, as it raised many important economic issues, said Denis Mukha. “The participants of the meeting charted out strategies to overcome the existing problems. In addition, one of the key tasks was outlined: the head of state gave an instruction to restore the volume of investment in fixed assets. The data for H1 2022 show that the investment suffered more than any other sector,” the director said.
The investment shrank the most in the second quarter due to the sanctions imposed by a number of states. This hampered the implementation of investment projects, as it became more difficult to obtain financing and renew credit lines, especially those opened in Western countries, and the supply chains of investment goods were disrupted. “We realized that the economy would experience these problems for some period, because it is not so easy to find the optimal solution right away. Nevertheless, we see that our government has been working hard in recent months amidst these restrictions. We already see some positive dynamics. According to the Economy Ministry estimates, the situation might reverse in August. We expect an increase in investment activity in the near future,” the economist noted.