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Economy
21 February 2024, 13:14

Manufacturing, construction, trade among major contributors to Belarus’ economic growth in 2023

MINSK, 21 February (BelTA) – The drivers of Belarus’ economic growth in 2023 were the manufacturing sector, construction, and trade, Belarusian Economy Minister Yuri Chebotar told the media before a meeting of the Council of Ministers to discuss the country’s social and economic development in 2023, BelTA has learned.

"The year was off to a positive start, in terms of indicators. The gross domestic product rose by 2.8%. This is the plateau of the quarterly forecast. But we are pressing forward. Today, we will set additional tasks to ministries, concerns and regions in order to gain more momentum and reach the growth target of 3.8%," Yuri Chebotar said.

Speaking about the economic performance in 2023, he said: "The results were basically satisfactory. Three key indicators have been met. The most important thing is the disposable household incomes. They increased by 6.3%, which was above the target of 4.1%. Wages in real terms rose by 11%. In December they reached almost Br2,300, while the inflation was 5.8%, which was much lower than the forecast for last year. The gross domestic product rose by 3.9% against the target of 3.8%. The growth drivers were the manufacturing sector, construction and trade," the minister said.
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