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PM: Belarusian economy has adapted to new conditions

MINSK ( BelTA) – The Belarusian economy has adapted to the new conditions, and all tasks for 2023 will be fulfilled, Belarusian Prime Minister Roman Golovchenko said at a meeting of the Supervisory Board of Belarus' Development Bank on 28 December, BelTA has learned.

“The role of the Development Bank is essential in accomplishing one of the main tasks for the economy next year. It is to achieve the parameters specified in the presidential decree. I would like to remind you that they include the GDP growth by 3.8 %, an increase in exports by 5.5 %, and an increase in fixed capital investment by 22.3 %. Next year we will obviously continue working in the same conditions we had this year. The shock that may have been felt at the first stage in some sectors of the economy has already passed. The economy has adapted to the situation,” Roman Golovchenko said.

“Despite the quite expected decline in GDP this year, there are significant positive developments. Thanks to the measures taken at the government level, we managed to stop the acceleration of inflation, and now we are witnessing deflationary processes. I expect that by the end of the year we will have it within 13 %. We are approximately on a par with Russia,” the prime minister said.

The head of government pointed out that the country managed to prevent a sharp decline in household income. “In November, the average monthly salary in the equivalent of US dollars reached a record high. I believe that in late December it will slightly increase. I hope that we will not let income to fall at least in the real sector of the economy, while pensions will grow in real terms. Apparently, there will be a slight decrease in salaries in the public sector, but the relevant decisions have been made to compensate for it next year,” he stressed.

According to Roman Golovchenko, the Development Bank has the task to promote sustainable development of the economy and perform the planned activities of lending to various projects. “The key task for the bank is to ensure the increase of fixed capital investment and export growth. I remind you that 129 regional projects are planned for the next year, 59 import-substitution and 12 integration projects. It is important to understand to what extent the bank's performance indicators are balanced with the set tasks. The segment of regional development (one district – one project program) is of special importance,” he added.