Lukashenko: dependence on Western technologies and components should be minimised within 2-3 years

All industries not subject to sanctions should add 4-5 percent in production and reach the maximum level of capacity utilisation, while the implementation of import-substituting projects with Russia needs to be facilitated – as stated by the President of Belarus, Aleksandr Lukashenko, at today’s meeting of the Council of Ministers on the results of the economy in 2022 and the solution of urgent tasks of socio-economic development this year

The Head of State noted that Belarus’ receipt of foreign exchange earnings on a net basis set a record in 2022, and that was facilitated by a favourable export environment and, as expected, the stalled imports of equipment and technologies. In this regard, the President emphasised, “Such a deficit and deferred demand may result in an increased pressure on the foreign exchange market in the coming years. Therefore, we simply have to provide ourselves with technology. The current situation has taught us how to level the sanctions pressure. All the best Belarusian minds – including scientists and designers – should focus not just on import substitution, but the country’s import independence.”

With this in view, the Academy of Sciences, the Committee on Science and Technology, and production specialists must work out every ‘white spot’ online. Aleksandr Lukashenko instructed, “Thoroughly analyse the needs of the real sector and involve small businesses. This is a good reason and incentive for the consolidation and scaling of small industries. Wherever the replacement of imported components is rational, Belarusian ones should be created and used – though not by blind copying, but with improved characteristics. Dependence on Western technologies and components should be minimised within two to three years.”

The President stressed that it is also necessary to significantly accelerate the implementation of import-substituting projects with Russia, “These are the productions that are critically needed by both countries, especially microelectronics. Russia needs these products, and – as far as I am being reported – the supplies of Belarusian microelectronics there have increased several times in recent months. However, we should not stop. We need to conquer and retain the Russian market for the future, also developing new markets.”

Oil refining, potash and tobacco industries have suffered much more from sanctions than others, and the Belarusian leader stressed that restoration of production volumes and looking for alternative markets for these products remain the topical issues for 2023 as well. “In general, the tasks for the industrial sector are as follows: all the industries not subject to sanctions should add 4-5 percent in production and reach the maximum level of capacity utilisation,” Aleksandr Lukashenko concluded.