Business news

MINSK, 22 May (BelTA) – Belarus’ experience of overcoming the economic recession in conditions of the global financial crisis and economic sanctions against Russia was unique. Belarus President Alexander Lukashenko made the statement in his speech at the congress of the Federation of Trade Unions of Belarus (FTUB) on 22 May, BelTA has learned.

The head of state said: “The Belarusian experience of overcoming the economic recession was in essence unique. Many people were fired in the USA and Western Europe. Hundreds of thousands lost their jobs overnight but we survived back then and will manage now.”

According to the President, Belarus is an open-economy country and is heavily influenced by external factors. “At present we are experiencing some difficulties primarily due to the crisis that affects our main trade partners,” said Alexander Lukashenko. In his words, the problems of the trade partners have invariably affected Belarusian enterprises. “Nevertheless, we have experience of working in such conditions,” said the President.

Securing the competitive ability of Belarusian goods on foreign markets is a number one priority in economy development at present, emphasized the President. Alexander Lukashenko said that in the current conditions it is important to increase labor productivity, ensure high quality of merchandise and services, reduce costs, save resources, and increase the personal responsibility and motivation of every employee.