Business news

Deputy PM: Sanctions failed to disrupt Belarus’ industry

MINSK, 22 November (BelTA) – The Belarusian industry operates steadily despite the sanctions, Deputy Prime Minister Pyotr Parkhomchik said at a joint meeting of the House of Representatives and the Council of the Republic, BelTA reports.

“Since the year-start until now, the industrial complex has been demonstrating good results and generally stable performance despite the sanctions and other negative trends. In January - October 2023, the gross domestic product grew by 3.8% year-on-year, while the industrial output increased by 8% or by 12.1 percentage points over January 2023,” Pyotr Parkhomchik said.

If the current dynamics in the manufacturing industry remain in place, the president’s task to grow the industrial output by 5-7% by the year-end will be fulfilled. In monetary terms, from May to November, warehouse stocks of finished products shrank by almost Br1 billion.

In January-September, the revenue in the manufacturing sector grew by 10.1% year-on-year.

The return on sales in industry was 9.5%, while the country’s average was 7.4%. The nominal average gross monthly salary in industry was Br2,124 in September, which is higher than the country’s average of Br1,939.

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