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02 May 2023, 11:12

Minister: Belarusian economy firmly on recovery path

Aleksandr Chervyakov. File photo
Aleksandr Chervyakov. File photo

MINSK, 2 May (BelTA) – The Belarusian economy is firmly on the path towards recovery, Belarusian Economy Minister Aleksandr Chervyakov said on the air of the ONT TV channel on 30 April, BelTA has learned.

"The first quarter posted positive dynamics. We see the performance of the industries. In general, the economy is showing recovery growth. Every month we grow by about one and a half percentage points," Aleksandr Chervyakov noted. "If we talk about March, we see the growth of 0.8%.”

According to the minister, the greatest economic contributor was the manufacturing sector. "It was mainly mechanical engineering, food industry, light industry, electrical equipment, microcircuits, etc. Agriculture has also been a steady performer with the growth of 3%. These key industries have ensured the appropriate dynamics," he added.

The minister also noted the good performance of the transport industry. "Transport is a very good indicator (and leading indicator) of economic development. If cargo transportation increases, we understand that production volumes increase. So do exports," he said.

Aleksandr Chervyakov recalled the task of the head of state: to make up for the losses incurred in foreign markets due to sanctions. "We had to quickly find new markets and redirect cargo flows there. Last year, we fulfilled this task by 85%. This year, in two months, we approached 98%, and by the end of the quarter we will fully restore the losses we incurred in foreign export markets," the minister stressed.

The minister also named the main foreign markets for Belarus. According to him, Russia remains the key market. In two months, sales in this key strategic market surged by more than 1.5 times. "They grew by $1.3 billion in two months, which was very good," Aleksandr Chervyakov explained.

The most important market is China. Belarus' exports to China rose by 2.6 times. The goal is to reach $2 billion this year. "Of course, the markets of Africa, Latin America, and Asia are also important for us, but the main thing here is to ensure the stability of transport corridors," the minister stressed.

In general, according to him, the government keeps tabs on six key parameters of economic development: production, exports, investments, profitability, pricing and household incomes. It is on these key parameters that the government's work is concentrated.

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