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Output of Belarusian Industry Ministry enterprises 4% up in H1 2024

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MINSK, 15 August (BelTA) – The output of enterprises run by the Belarusian Industry Ministry increased by 4% in H1 2024, BelTA learned from Belarusian Deputy Industry Minister Andrei Kuznetsov.

Andrei Kuznetsov remarked that enterprises belonging to the Industry Ministry system reported positive dynamics in H1 2024: their output growth rate exceeded 104% as against the same period of 2023. The volume of export is also expected to increase by the end of the year.

Apart from that, Industry Ministry enterprises are busy expanding the geography of shipments, including to faraway countries and African countries. “As of today the growth rate of our export to these countries stands at 120% as against the same period of last year. We will finish this year with approximately the same figure. In 2025 we expect our presence on these markets to increase by another 10% at least, which will allow continuing the diversification of target markets,” he explained.

Speaking about the development of the manufacturing sector over the last 30 years, the deputy industry minister stated that the results can be described only positively. “You can evaluate the development of the country simply by looking around: so many new districts have been built, so many new automobiles roam the streets, we have so many hypermarkets,” the official added.

The matter of import substitution is important these days. The Industry Ministry has been focusing on import substitution for practically 20 years now. “The year 2022 when unprecedented sanctions were enforced is illustrative. We continued and continue expanding. It means we are on the right track. First of all, we substitute imported components. Secondly, we promote cooperation within the framework of the Union State of Belarus and Russia,” Andrei Kuznetsov concluded.

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