Business news

MINSK, 5 December (BelTA) – The Council of Ministers will review the economic results of 2017 to date, the expected results for 2017, and the forecast for January 2018 on 5 December, BelTA learned from the press service of the Belarusian government.

“The IT sector will be among the drivers of Belarus’ economic growth in 2018. The draft ordinance on digital economy development, which envisages the most favorable conditions for blockchain technology development (including mining and cryptocurrency exchange) and comprehensive legal regulation of related activity, has been approved without any remarks by all the authorized government bodies and submitted for consideration to the president in accordance with the established procedure,” the press service clarified.

In January-October 2017, the government and the National Bank met five out of seven key performance targets as well as parameters envisaged by the main directions of the financial policy, the press service said.

Over this period of time, the industrial production output grew while the ratio of stocks of finished products to the average monthly output decreased. The sales margin of industrial organizations and the real income in Belarus went up, too.

Belarus also met its external debt payment and service obligations in full and augmented its forex reserves.

Belarus’ GDP stood at 102% in January-October 2017, with the 2017 forecast and target being 101.7%.