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Belarus’ GDP may grow by over 20% within five years

Aleksandr Chervyakov. An archive photo

MINSK, 6 October (BelTA) – The Belarusian economy may grow by over 20% over the course of five years while export may reach $50 billion. Belarusian Economy Minister Aleksandr Chervyakov mentioned the figures before the session of the Council of Ministers’ Presidium held on 6 October to discuss the draft program on Belarus’ social and economic development in 2021-2025, BelTA has learned.

The economy minister said: “We see that economy may expand by more than 20% over the course of five years. We intend to increase export up to $50 billion in 2025 and raise over Br200 billion in investments within five years in order to create a modern infrastructure and develop manufacturing enterprises.”

In his words, the main purpose of the program on Belarus’ social and economic development in 2021-2025 is to raise the nation’s living standards by restoring economic growth and labor productivity.

The program outlines ten priority directions, including those affecting the quality of life and the development of entrepreneurship. “We are discussing matters of export, resumption and launch of investment activity of enterprises. Attention is paid to improving the effectiveness of state administration, increasing the productivity of state assets, developing the regions,” Aleksandr Chervyakov explained.

The official noted that over 120 experts from various spheres had been involved in drafting the social and economic development program. They include representatives of the private sector, international organizations, public associations, education specialists, and scientists. About 30 roundtable sessions were held. Hundreds of proposals were submitted. “This is why today the result of collective effort is presented,” Aleksandr Chervyakov added.

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