ndustrial sector described as main contributor to economic growth in Belarus
MINSK, 29 July (BelTA) - The industrial sector has been the main contributor to economic growth in Belarus, Economy Minister Aleksandr Chervyakov said in an interview to Belarus 1 TV channel, BelTA has learned.
“In January-May 2021, the country's GDP showed a strong growth of 3.3%. We expected such a result. The industrial sector made the main contribution to these figures, accounting for almost 80% of the overall growth. This is thanks mainly to the growing markets - our enterprises have order intakes for the next two or three months. Manufacturing will continue growing,” said Aleksandr Chervyakov.
According to the economy minister, the transport sector has also gained momentum “The sector is demonstrating growth as well. We have fully restored passenger transportation flows, despite restrictions from the EU. We have turned our flows to the east and are picking up steam," he said.
We are taking measures to mitigatea possible impact of economic sanctions against Belarus, Aleksandr Chervyakov said. “We are not waiting for sanctions to hit us hard. Here it is important to be proactive. We are tapping into new markets, including Russia, China, Turkey, India, and Africa. They are growing fast, and we can redirect some of our product flows there. To date, the share of Belarusian exports in the Russian Federation is about 5.8%. We are actively exploring the Chinese market. We are working with experts on a list of goods that we can supply there. Some 69% of Belarusian goods that go to Europe can be supplied to China, too. We do not intend to reduce our presence in the European markets. We will do our best to stay there,” the minister stressed.
