Deputy Economy Minister named drivers of GDP growth in 2023

Industry is the main driver of GDP growth last year, Belarus’ Deputy Economy Minister Andrei Kartun told reporters

“The GDP growth at the end of the year amounted to 103.9 percent – higher than the forecast parameters. The main drivers of growth are industry, construction and trade.”

According to him, industry growth in 2023 stood at 107.7 percent.

“In 2023, the maximum output over the past five years has been achieved for such product items as mining dump trucks, buses, trucks, cars, cement, washing machines, microwave ovens, and televisions,” added Andrey Kartun.

The Deputy Economy Minister noted that in retail trade there was an increase from 108.2 percent to 108.5 percent – largely due to the rapid growth of real incomes of the population, “High growth rates in wholesale trade are stimulated by industrial activity.”

As far as construction is concerned, according to him, the incentive measures for infrastructure development taken by the Government in early 2023 have yielded results, “Last year, construction saw an increase of 110.6 percent, while construction and installation works accelerated to 108.1 percent over 12 months.