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Nearly quarter of Belarus’ GDP generated by private sector

MINSK, 24 October (BelTA) – Nearly a quarter of Belarus’ GDP is generated by the private sector, BelTA learned from Belarusian Economy Minister Aleksandr Chervyakov before a forum of business circles dedicated to the opening of the Belarusian Entrepreneurship Week began.

Aleksandr Chervyakov thanked the Belarusian private sector, which has persevered in the period of sanctions pressure and continues developing. “These entrepreneurs have survived and have rerouted operations to other markets. It is what entrepreneurship is all about – fast adaptation to new conditions,” the official noted.

At present the contribution of Belarusian entrepreneurs to the country’s economy is huge, he added. “Virtually 25% of the country’s GDP is generated by entrepreneurs. The private sector employs a third of the economically active population. It accounts for a third of the investments and a third of the budget revenues. If we look at foreign trade, the private sector accounts for 40% of merchandise export and 52% of the export of services,” Aleksandr Chervyakov said.

Participants of the forum are expected to discuss the new directions the private sector can suggest for the sake of Belarus’ development.

The program of the Belarusian Entrepreneurship Week provides for a large number of meetings, negotiations, and dialogue platforms to discuss all the topical matters. Representatives of government agencies, the private sector, associations of entrepreneurs, subjects belonging to the infrastructure designed to support entrepreneurship, science, education, youth associations, and citizens, who are interested in starting their own business, are expected to participate in them.

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