Łukašenka concerned about missed economic targets

October 16, Pozirk. Alaksandar Łukašenka has expressed concern about a slowdown in agriculture, industry and exports at today’s government conference in Minsk, his press office reported.

Belarus’ agricultural and industrial production fell by 1 percent and 0.8 percent, respectively, in January-September, according to official statisticians.

Łukašenka said that Belarus also missed out on approximately $650 million in revenue due to a drop in exports this year.

“We are losing money where we should be making it — on our flagship products: tractors, harvesters, paints, tires and butter,” Łukašenka’s press office quoted him as saying. “As a result, goods are piling up in warehouses, with inventory levels stuck above 80 percent for five months. Foreign trade continues to post consistent deficits.”

The rise in investment is “still far from sufficient to even maintain the economy’s competitiveness,” he added, calling for “realistic but challenging” targets for 2026.

“If someone proposes [GDP growth of] 3-3.5 percent, please go ahead. Where, at what cost and how will they contribute to this growth? If someone [proposes] less than that, let them explain how this will be perceived by our society,” Łukašenka said.

He also told officials to take into account Russia’s deceleration, noting that the neighboring country accounts for about 67 percent of Belarusian exports and 56 percent of imports.

Economy

Economy

Belarus’ industrial output drops by 0.8 percent

October 16, Pozirk. Belarus’ industrial production contracted by 0.8 percent in January–September, the National Statistics Committee (Biełstat) said. A trend toward acceleration was observed until mid-summer 2024 with a slowdown reported for 11 consecutive months since then. Cargo transportation decreased …

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