GDP growth in Belarus planned at 3.8% in 2023

Today, the Presidium of the Council of Ministers considered draft forecast documents for 2023: the most important parameters of socio-economic development, the main directions of monetary policy, the national budget and changes to the Tax Code. This package of documents will determine the trajectory of the country next year, said Roman Golovchenko.

"The work has been carried out for several months. Conceptual approaches have been prepared on the basis of the instructions of the President and a proactive response to the current challenges. The forecast of the social and economic development for the next year is formed on the basis of the task, which is to reach the parameters of economic growth, stipulated by the five-year social and economic development program, despite the unprecedented sanctions, to which the economy is already adapting. The economic growth in 2023 is planned at 103.8%. The task is not an easy one, especially in the conditions of sanctions lawlessness, broken economic ties, unbalanced and ongoing market restructuring. Its solution requires tension throughout the system," the Prime Minister stressed.

As for industrial production, an increase of 2.4% should ensure the maximum output of industrial products in 10 years.

"Given the planned increase in investment to the level of 20% of GDP, everything must be  thoroughly planned: projects, responsibilities, sources of funding. All investment projects planned for implementation should be digitized into an online monitoring system by the end of the year," added the head of the government.

The forecast documents propose a system of key performance indicators, based on which the work of managers at all levels will be evaluated. For the government and the National Bank the growth of GDP, real disposable income and investment in fixed assets, exports of goods and services, consumer price index will be defined.