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"On Point"
MINSK, 12 June (BelTA) - Africa is the most powerful driver of the global economy today, and Belarus, as an export-oriented country, needs to maximize its presence on the continent, Aleksei Avdonin, an analyst with the Belarusian Institute of Strategic Research (BISR), said in a new episode of the V Teme [On Point] project on BelTA’s YouTube channel.
“Africa is currently acting as the most powerful driver of the world economy. The growth rates of individual countries and regions are sometimes 7-9%. Some even show growth of 12%. This shows that there is a lot of investment coming into Africa from global corporations, banks. This is due to the fact that Africa has not been greatly developed so far in terms of the development of productive forces, i.e. the development of large-scale industries, development of the education system,” said Aleksei Avdonin.
According to the analyst, African countries have not been involved in the consumption of goods with high surplus value. Nevertheless, Africa is a huge market both for investment and the sale of goods and services.
“In this regard, Belarus, as an export-oriented country, needs to maximize its presence in the African region. We should benefit from these high growth rates, too. If there are high growth rates there, and we supply our products there and hold our market share, then we can have such growth rates as well. Our enterprises will work, we will be able to increase exports of products and services. As a result, our enterprises will earn more,” the analyst emphasized.
According to Aleksei Avdonin, this will also ensure the financial stability of the banking system due to the inflow of “export” currency: “We will be able to further reinvest this money in new projects, areas, sectors of the economy.”
According to the analyst, African countries have not been involved in the consumption of goods with high surplus value. Nevertheless, Africa is a huge market both for investment and the sale of goods and services.
“In this regard, Belarus, as an export-oriented country, needs to maximize its presence in the African region. We should benefit from these high growth rates, too. If there are high growth rates there, and we supply our products there and hold our market share, then we can have such growth rates as well. Our enterprises will work, we will be able to increase exports of products and services. As a result, our enterprises will earn more,” the analyst emphasized.
According to Aleksei Avdonin, this will also ensure the financial stability of the banking system due to the inflow of “export” currency: “We will be able to further reinvest this money in new projects, areas, sectors of the economy.”
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