Business news

MINSK, 30 May (BelTA) – In Q1 2018 Belarus raised $1.3 billion in foreign direct investments, BelTA learned from First Deputy Prime Minister of Belarus Vasily Matyushevsky. The official delivered a report covering the performance of the national economy and the formation of its development priorities during the joint session of the two chambers of the Belarusian parliament on 30 May.

Vasily Matyushevsky said: “Macroeconomic balance, steps to improve the business and investment climate have resulted in practical support on the part of our foreign partners. In Q1 2018 the country received $1.3 billion in foreign direct investments on a net basis or 92% of the annual target. The figure is larger than investments received in the entire last year.”

Fixed-capital investments grew by 16.6% in comparison with Q1 2017.

Vasily Matyushevsky stressed that thanks to the measures implemented by the government and the central bank Belarus had reached an economic growth trajectory, had preserved macroeconomic stability and balance. “These trends are supported in 2018, too,” he said.

Vasily Matyushevsky reminded that in January-April 2018 Belarus’ GDP grew by 4.8%. “The figure is higher than the target the social and economic development forecast specifies for this year. And higher than the global economy growth. Labor productivity in GDP terms continues growing ahead of the economic growth — 5.4% up,” said the official.

In Q1 2018 the growth rate of the export of merchandise and services totaled 125.7%. A positive foreign trade balance to the tune of $315 million was secured.