Golovchenko: Belarus’ economic results demonstrate positive stable trend

The situation in Belarus’ economy is stable – as stated by Prime Minister Roman Golovchenko during a meeting of the Council of Ministers focusing on the results of the country’s socio-economic development in Q1

“The situation in the economy is stable, the results demonstrate a positive stable trend. The macroeconomic balance has been preserved. In Q1, the foreign trade surplus amounted to $243m, and exports of goods and services stood at 11 billion 700 million US Dollars. These are the highest figure since 2012,” the Prime Minister informed.

Mr. Golovchenko noted that – thanks to the measures taken by the Government together with the National Bank – inflation in annual terms decreased to 4.7 percent in four months. “All social tasks of the state are carried out in full, and we have reached a positive growth rate of our citizens’ real incomes: in January-March, their level exceeded 100 percent. Real wages increased by almost 2 percent, and the average salary in Q1 made Br1,731, or $627. This is also a record figure in recent years,” he said.

The Prime Minister drew attention to the planned increase in pensions in the country. According to him, their average figure will make Br705 in May – taking into account the last increase (21 percent growth against the May 2022 level).

“The controlled situation on the labour market has been preserved, and all this is based on the real results of the economy. The financial performance of organisations has significantly improved, net profit increased by 25 percent to 4 billion 700 million Belarusian Roubles. At the same time, the amount of net loss for unprofitable organisations decreased by 27 percent, and there are now 86 loss-making companies less in the country,” Mr. Golovchenko said.

As informed by the Prime Minister, an increase in industrial production of 102.3 percent and agricultural products of 103.7 percent was registered in the first four months of the year, based on the operative data.

“Last year's level of turnover in retail and wholesale trade has been restored, and this confirms the thesis about the recovery growth of our economy,” Mr. Golovchenko concluded.