Snopkov: Belarus' economy growing above global average for second year
13:23, 22 October
Photo: BELTA
For the second year in a row the Belarusian economy has been growing at a rate higher than the world average, First Deputy Prime Minister Nikolai Snopkov said at a joint sitting of the House of Representatives and the Council of the Republic of the National Assembly of Belarus in Minsk on 22 October, BelTA has learned.
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"For the second year in a row, the economy has been growing above the global average. In January-September of this year, the economy rose by 4.5%, exceeding the government's annual target of 3.8%," Nikolai Snopkov said.
He noted that for the third consecutive year, the government has been implementing a mobilization model of the economy. "We have set specific targets for production, exports, cost reduction and financial results, and we monitor their achievement on a weekly basis. As a result, the manufacturing sector has expanded by 6.4% in the last nine months. In general, it has grown by at least 5-6% over the last two years," he emphasized.
The demand for products has allowed the country to utilize its capacities fully and boost sales. "In 2023, the country manufactured a five-year record number of trucks, cars, dump trucks, combine harvesters, TV sets, microwave ovens, and other products. Over the five-year period, the capacity utilization has increased to 77%. The share of innovative products has went up from 16% to 22.2% over the past five years," Nikolai Snopkov added.
