The authorities of Belarus announced the end of a difficult period in the economy


The most difficult times for the Belarusian economy are over. This was announced today, August 19, by the Prime Minister of the Republic Roman Golovchenko.

According to him, Belarusian trade is sagging “literally due to the three or four large exporters who have come under the greatest sanctions pressure.”

“I believe that the most difficult times are over. Since May, exports have been growing steadily. And I think that by the end of the year we will have a record positive balance. Of course, this is due to both the reduction in imports and the growth of exports,” he said.

Golovchenko also stressed that it is very important for the country’s balance of payments: the inflow of foreign currency will be sufficient to strengthen reserves and ensure payment obligations. At the same time, he added that, for obvious reasons, exports to the European Union decreased by almost a third, and now it is being replaced.

“It’s going pretty fast. In June, we had a historical record of exports to Russia – more than two billion dollars. Never before has there been such a figure in a monthly volume. In principle, exports to the countries of the “far arc” are growing at a fairly explosive pace. Although in absolute terms this is not so much – tens of millions of dollars, not hundreds – but the pace itself is impressive, ” — said the Belarusian prime minister.

In addition, the head of the Belarusian government said that “exports have increased tenfold to the countries of the African and Asian continents, the Middle East.”

“This is Ghana, and Mali, and Zimbabwe, and Guatemala, and a number of other countries. This suggests that the process of diversification is underway. China has added very actively, the negative balance in trade with China is significantly reduced. That is, it was not China that added, but we added in the Chinese market. In my opinion, we are now approaching a billion in half a year. Thus, we are balancing the difficult situation in which we have been placed through the imposition of sanctions,” Golovchenko said.

Recall that Belarus has been under tough Western sanctions since the end of 2020. Restrictions from the EU and the US have affected almost all spheres of the republic’s economy. Minsk expects to overcome all difficulties by expanding cooperation with Russia and China.

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