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23 Jul 2020

PM: Belarus’ GDP on a positive track in June

PM: Belarus’ GDP on a positive track in June
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MINSK, 23 July (BelTA) – Belarus’ Gross Domestic Product (GDP) expanded by 0.1% in June, Belarusian Prime Minister Roman Golovchenko told the media after the meeting hosted by the president to discuss the country’s economic performance, BelTA has learned.

“Belarus is deeply integrated into the global economy, international cooperation chains. We have an open, export-oriented economy. That is why this [global economic situation] could not but affected us,” the prime minister said.

According to Roman Golovchenko, thanks to timely decisions taken by the country’s authorities, GDP losses this year are much smaller than those of the neighboring countries with traditionally stronger economies. “In order not to lose the markets and be on time as markets reopen, we have not stopped manufacturing facilities. Some manufacturers faced a slowdown  due to disruptions in supply chains. But we have good performance indicators against those of our neighbors,” he said.

According to the prime minister, Belarus’ GDP in H1 was 98.3% against last year’s half year. "We expanded by 0.1% in June and we think we will continue to add up," he said. “Although many of our neighbors have recognized that the GDP growth is not possible, and are bracing for the decline: from 10% in the eurozone to 6% in Russia.

The Belarusian government expects to fulfill the tasks set by the head of state and at least keep the GDP at the level of 2019. “There are encouraging prerequisites for such forecasts. “Against the background of the negative news there is a positive one about a harvest. We need to use this opportunity , to crop the harvest on time. For the first time probably in many years, the weather has been favorable for farmers. We have to use it. The task today is not to lose the harvest. The demand for food is high. Belarus has recently been able to significantly increase food exports and ensure the flow of currency into the country. This year there are all conditions for the subsequent growth of agricultural exports,” Roman Golovchenko noted.

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