Opinions & Interviews

Snopkov names key tasks for fulfilling economic growth targets

MINSK, 24 May (BelTA) – At the joint meeting of the House of Representatives and the Council of the Republic on 24 May Belarus’ First Deputy Prime Minister Nikolai Snopkov outlined three key tasks that need to be fulfilled in order to achieve the established economic growth targets, BelTA has learned.

“Tasks for 2023. If we look at the situation as a whole, we will see that it is getting back to normal, but there should be no illusions about this. Not everything was resolved last year,” Nikolai Snopkov said.

According to him, three key tasks need to be addressed in 2023 in order to fulfill the desired parameters of economic development. “The include stable operation of the real sector of the economy, a proactive investment policy on the part of the state, more efficient capital utilization, primarily at state-owned enterprises,” the first deputy prime minister informed.

“The government still uses a mobilization approach to the work of the real sector of the economy. Strict supervision of production, export, cost reduction and profitability is maintained. Detailed tasks have been set and their fulfillment in physical terms is checked every week, like the increase in output of specific commodity items,” added Nikolai Snopkov. “For example, there are plans to produce 50,000 tractors, 850,000 refrigerators, 6,800 trucks, and 4.3 million tires in 2023. There are 43 such commodity groups, their share in the added value of the country’s manufacturing industry is 20%. A similar approach is applied to exports. Tasks have been set for more than 40 commodity items, their share in the export of goods is about 40%,” he said.

Russia will remain a key market for Belarus in 2023. “A task has been set to diversify exports. The export to Asia is expected to grow by at least 6.5% over 2022, to Africa by at least 10%, to China by at least 15%,” Nikolai Snopkov emphasized.

“We will keep an eye over efficiency indicators: cost reduction and profitability targets have been set for industries and each enterprise that is monitored by the government,” the first deputy prime minister added.

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