MINSK, 3 November (BelTA) - European economies were predicted to grow, and we were expected to fall. But everything turned out the other way around, Belarusian First Deputy Economy Minister Andrei Kartun said in BelTA’s project "The Nation Speaks".
As unfriendly countries imposed unprecedented sanctions in 2022, Belarus faced challenges, including a certain decline in GDP, by about 5%. According to Andrei Kartun, earlier a third of Belarusian exports went to the European Union, so the fall could have been even greater. But the Belarusian economy not only did not collapse, but also began a steady recovery, he stressed.
It is not clear why international organizations painted a bleak picture throughout 2023-2024, but things turned out to be exactly the opposite. "European economies were predicted to post higher growth, and we were expected to grow much less. But things turned out the other way around. They fell. The large economies of the European Union have fallen in general; they are still in the negative territory. This suggests that they hurt themselves by their decisions. Well, we were able to mobilize, redirect our export flows to new markets," he said.
If we talk about the European Union, Belarus’ exports to these countries have decreased by half and will continue to decrease, because additional sanctions came into effect on 1 October 2024. "In terms of imports we are fully prepared. In fact this will not affect us in any way. We have already replaced imported goods. As for exports, there are sensitive positions indeed. But, again, all issues can be solved from the point of view of diversification. We have already done this and kept encouraging the economy to do this starting from 2022," Andrei Kartun explained.
As unfriendly countries imposed unprecedented sanctions in 2022, Belarus faced challenges, including a certain decline in GDP, by about 5%. According to Andrei Kartun, earlier a third of Belarusian exports went to the European Union, so the fall could have been even greater. But the Belarusian economy not only did not collapse, but also began a steady recovery, he stressed.
It is not clear why international organizations painted a bleak picture throughout 2023-2024, but things turned out to be exactly the opposite. "European economies were predicted to post higher growth, and we were expected to grow much less. But things turned out the other way around. They fell. The large economies of the European Union have fallen in general; they are still in the negative territory. This suggests that they hurt themselves by their decisions. Well, we were able to mobilize, redirect our export flows to new markets," he said.
If we talk about the European Union, Belarus’ exports to these countries have decreased by half and will continue to decrease, because additional sanctions came into effect on 1 October 2024. "In terms of imports we are fully prepared. In fact this will not affect us in any way. We have already replaced imported goods. As for exports, there are sensitive positions indeed. But, again, all issues can be solved from the point of view of diversification. We have already done this and kept encouraging the economy to do this starting from 2022," Andrei Kartun explained.
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