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Belarus shows recovery growth in January-July 2023

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MINSK, 22 August (BelTA) - The Belarusian economy showed recovery growth in January-July 2023, Chairperson of the National Statistical Committee Inna Medvedeva told a press conference on 22 August, BelTA has learned.

“In January-July 2023, the Belarusian economy demonstrated recovery growth and adaptation to sanctions. Gross domestic product increased by 2.9%. The drivers behind the economic growth were industry, agriculture, wholesale trade. Considerable progress was made in reducing the stockpiles, which increased throughout the previous year and the start of this year due to the imposed sanctions,” Inna Medvedeva said.

Special attention should be paid to the indicators characterizing people’s living conditions. “In January-June 2023, household incomes increased by 3.9%. Both wages and pensions were raised. The poverty and jobless rates are kept low today - 3.9% and 3.5% respectively,” the head of the National Statistical Committee said.

The consumer price index in Belarus is one of the lowest in the CIS - 3.3% to December 2022. “Even the industries, which today are still in the red zone, are showing improvements,” Inna Medvedeva said.

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