Ministry of Economy: Belarus' GDP is growing at a rate higher than the world average
Belarus's gross domestic product is growing at a rate higher than the world average.
The press service of the Ministry of Economy reported this on Telegram.
How the Belarusian economy is growing
According to the National Statistical Committee, the GDP growth rate in January-May was 104.9%.
This is significantly higher than the forecast and global average rates, the Ministry of Economy stated.
The industry showed growth of 7.1% and retains its status as one of the leaders. The production of cars and trucks, wagons, buses, motorcycles, radio navigation equipment, and optical devices increased significantly.
Agriculture also shows good results (growth by 7.2%). A large increase was obtained in vegetables, grain, milk, meat, eggs.
Construction has a strong position among growth drivers, with a growth rate of 109%. Transport and trade are also showing stable growth.
Fixed capital investment rose 7.1% in the first eight months, well ahead of forecasts.
The share of expenses for purchasing machinery and equipment has come close to 40%. Enterprises are confidently planning further development and investing in modernization.
Exports of goods and services are steadily recovering: growth rates in January-July accelerated to 104.5%.
Exports to friendly countries increased by 4.3%, to Asian countries by 10.8%, and to African countries by four times.
The stable operation of the economy allows for accelerated growth of real disposable incomes of the population. In January-July, they grew by 9.9%.
