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Economy
06 December 2021, 13:11

Production sector, IT expected to continue fuelling Belarusian economy growth in 2022

MINSK, 6 December (BelTA) – The production sector and the IT industry will remain drivers of economic growth in Belarus in 2022, BelTA learned from an interview of Deputy Head of the Belarus President Administration Dmitry Krutoi with the TV channel Belarus One.

During the interview it was noted that although the Belarusian government expects the GDP to grow by 2.9% in 2022, various international experts are less optimistic. “No projection of international experts concerning the Belarusian economy came true in the last five years. So, I would not pay attention to them,” Dmitry Krutoi said in response.

In his words, four factors will affect Belarus' GDP in 2022: the pressure of sanctions and fight against it; the coronavirus pandemic and new strains, the world economy's response to it; domestic mobilization inside Belarus, saving of all kinds of resources and rejection of unnecessary expenses, particularly in the public sector; export and efforts to preserve foreign trade pace.

“The information technologies industry and the production sector still remain growth drivers. The industrial sector will grow faster than the rest of the economy. The industrial output growth is expected at 3.3-3.5%,” Dmitry Krutoi said.

As for the IT sector, the official pointed out that it accounts for 7.5% of the GDP and continues growing. “Some 11,000 people came to work in our Hi-Tech Park in the last 1.5 years. It is a response to speculations about the relocation of IT companies. No, the IT sector is developing very actively. They intend to secure export of about $3.5 billion in 2022 and the export surplus of $3 billion,” the official said.

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