Belarusians promised income and GDP growth next year

The economy of Belarus is in the stage of recovery growth. This was announced today, September 27, by the Minister of Economy of the Republic Alexander Chervyakov.

“The economy is gaining momentum every month. We are starting to grow month by month. Therefore, the dynamics are positive, – he said and added that now the growth will show not only agriculture, but also industry, as planned.

At the same time, the minister noted that, according to the forecast of socio-economic development, the GDP of Belarus next year should grow by 3.8%, and the incomes of Belarusians – by 4%.

“We plan to build more than 4.3 million square meters of housing. Moreover, 1.2 million “squares” with state support”, Chervyakov noted.

In turn, Prime Minister of Belarus Roman Golovchenko confirmed the forecast for GDP and noted that the forecast for socio-economic development for the next year was formed based on the target task.

“This is an exit to the parameters of economic growth provided for by the program of socio-economic development of the population, despite the unprecedented sanctions pressure, to which the economy is already finishing adapting,” – he said.

According to him, the forecast documents proposed a system of key performance indicators, on the basis of which the work of managers at all levels will be evaluated. In particular, for the government and the National Bank, such indicators will be the growth of gross domestic product, real disposable income of the population, investment in fixed assets, exports of goods and services, as well as the consumer price index.

“Relevant indicators will be formed along the entire vertical of power and deployed through tasks in the target plan approved by the Council of Ministers, and then through decisions of executive committees, ministries. Economic growth in 2023 is planned at the level of 103.8%”, Golovchenko noted.

He also called it a daunting task, especially in the context of “sanctions lawlessness, destroyed economic ties, imbalances and ongoing restructuring of markets.” In this regard, the head of the Belarusian government stressed that its solution requires tension throughout the system.

“Increase in industrial production by 2.4% should ensure reaching the maximum volume of industrial output over the past 10 years”, – said the Belarusian prime minister.

Recall that Belarus has been under tough Western sanctions since the end of 2020. The pressure on the republic increased after the start of the Russian special military operation in Ukraine. At present, trade relations between Belarus and Western countries, which were previously the main suppliers of currency to the republic, are practically frozen. Minsk plans to overcome the current difficulties by developing cooperation with Russia and Asian countries.

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