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15.11.2023

ECONOMIC SECURITY IS A KEY CONDITION FOR SUSTAINABLE DEVELOPMENT OF THE BELARUSIAN STATE

based on information from the National Bank of the Republic of Belarus, the Ministry of Antimonopoly Regulation and Trade, the Ministry of Foreign Affairs, the Ministry of Industry, the Ministry of Agriculture and Food, the Ministry of Economy, the Ministry of Energy of the Republic of Belarus, the National Academy of Sciences of Belarus, materials from the BelTA agency and the newspaper SB. Belarus today"

Speaking with the annual Address to the Belarusian people and the National Assembly on March 31, 2023, the President of the Republic of Belarus A.G. Lukashenko emphasized: “For three decades now, the foundation of our state policy has been a socially oriented economy. This policy is successful. The people support her. According to all indicators characterizing social equality, Belarus is one of the most prosperous countries... Therefore, it is the economy that ensures the social security of citizens that is the main target of the West.”

Despite the unprecedented sanctions pressure, the Belarusian economy is showing growth: industrial production has increased, inflation has decreased, and the population’s income has increased.

This became possible, including thanks to the strategic partnership between Belarus and Russia. “The unity of two states is, first of all, the economy ,” stated Head of State A.G. Lukashenko on October 10, 2023 at a meeting with the Governor of the Novosibirsk Region A.A. Travnikov.

General information

The draft of the new Concept of National Security of the Republic of Belarus (hereinafter referred to as the Concept) states that economic security is the state of protection of industries and sectors of the economy from the effects of threats that impede the sustainable socio-economic development of the Republic of Belarus.

Main national interests in the economic sphere:

economic growth and increased competitiveness of the Belarusian economy based on its structural restructuring, improvement of the management system, sustainable innovative development, active investment in human capital and high technology, cost reduction and development of high-tech, export-oriented and import-substituting industries;

ensuring price and financial stability;

achieving a level of energy security that ensures an acceptable level of diversification of the country’s fuel and energy balance by types and suppliers of fuel and energy resources consumed, economically and environmentally justifiable use of the potential of local energy resources, reducing the energy intensity of GDP;

ensuring food security;

introduction of promising technologies into the country’s economy, including through foreign direct investment, availability of foreign credit resources;

maintaining product and country diversification of exports of goods and services, balancing foreign trade, ensuring foreign economic security, etc.

Internal and external sources of threats to national security in the economic sphere are listed in the draft new Concept.

Economic growth and increasing the competitiveness of the Belarusian economy

Despite the sanctions imposed by the West, in terms of growth rates of gross domestic product (above the world average), our republic managed not only to exceed the forecast for January–September 2023 (103.1%), but also to get ahead of a number of countries.

For reference:

According to forecasts of international financial organizations, by the end of 2023, the growth rate of the global economy is expected to be 102.1–103.0%.

In Ukraine, in the first quarter of 2023, compared to the same period in 2022, GDP decreased by 10.5%. 
   
Poland is also experiencing a contraction in economic growth (by 2.2% in the second quarter of 2023), which is due not only to the negative contribution of inventories, but also to a decline in private consumption and weakening external demand. According to independent experts, “the current decline is due to a reduction in government and household spending.” 
   
In Germany, GDP for the first half of 2023 was “significantly weaker than expected.” Declining real wages had a negative impact on consumption, and weak external demand led to a decline in exports. Independent observers believe that “by the end of 2023, the German economy will shrink by 0.4%.” 
   
In the Netherlands, the economy contracted in both the first and second quarters amid lower consumer spending and lower exports. Annual economic growth in 2023 is projected at 0.5%. 
   
In our country, the drivers of GDP growth are industry, construction and trade.

To the attention of the speakers: here and further it is advisable to provide relevant information and examples in relation to a specific region, territory, or locality .

In terms of industrial production growth rates (107.9%), Belarus retains its position as a leader among the EAEU countries.

For reference:

In terms of the industrial production index, Belarus is ahead of Russia (for January–August 2023 – 103.0%), Kazakhstan (103.8%), Uzbekistan (105.8%) and a number of other countries. 
               
In EU countries, the industrial production index in July of this year amounted to 97.6% compared to July 2022, in the manufacturing industry - 98.2%. Including: in Lithuania, industrial production decreased by 7.8% (in manufacturing - by 5.8%); in Latvia – by 8.6% (in manufacturing – by 6.2%); in Poland – by 2.7% (in manufacturing – by 2.4%); in the Czech Republic - by 2.8% (in manufacturing - by 1.1%). In Germany in July of this year, industrial production decreased by 0.8% against the forecast of 0.5%. 
             
High demand for domestic products (primarily in foreign markets) made it possible to increase production volumes for individual items several times. “We are a country of motorists. We create such cars that any country can envy: small-tonnage, medium-tonnage, and large-tonnage - BELAZ.MAZ is a middle-class car in terms of carrying capacity ,” said A.G. Lukashenko at a meeting with youth activists on October 24, 2023.

For reference:

Over the 8 months of 2023, the country produced more than 42.7 thousand passenger cars (an increase of 3.6 times compared to the same period in 2022). This year we have significantly increased the production of televisions – 2.3 times, optical instruments and devices – 2.2 times. 
       
The maximum volumes over the past 5 years are provided for the production of combines, trucks, microwave ovens and a number of other product items.

Net profit in industrial organizations for 7 months of 2023 exceeded 5 billion rubles.

Positive trends are observed in the domestic consumer market. Retail turnover in January–September 2023 increased by 6.7%.

Positive trends in the development of the national economy are ensured, including through the introduction of high technologies.

Examples of the introduction of promising technologies and the development of high-tech, export-oriented and import-substituting industries.

In mechanical engineering:

• creation of a prototype garbage truck with an autonomous electric traction drive and a low cabin level;
• to be held in the first half of 2023. preliminary tests of a prototype electric bus for transporting passengers at airports with domestically produced power plant components;
• mastering the production of the latest tourist airliner (MAZ bus) with improved consumer characteristics (first demonstrated on July 10, 2023 in Yekaterinburg at the Innoprom-2023 exhibition) ;
• implementation of the innovative project “Creation of high-performance production of intelligent automotive components and systems for vehicles of environmental class Euro-5, Euro-6”, etc.

In chemical production:

• carrying out technical modernization at JSC Gomel Chemical Plant in order to increase the production of sulfuric acid, which will increase the production of complex multicomponent fertilizers to 1220 thousand tons per year and create the prerequisites for processing phosphorus-containing raw materials of various qualities;
• commissioning of a new nitrogen complex for the production of ammonia and urea at JSC Grodno Azot, etc.

In the production of building materials:

• an innovative project for the production of technologies that reduce the shrinkage of finished products was implemented at Keramin OJSC;
• a project was implemented to create the production of glass containers using energy-efficient and resource-saving technologies at the Grodno Glass Factory OJSC (contributed to the growth of the plant’s production capacity by 65%), etc.

One of the prerequisites for economic growth is the use of the potential of local resources.

For example, along with the primary processing of fiber flax and the production of flax fiber, 11 flax mills of the republic carry out advanced processing of flax, including:

• processing of fires (woody parts of the stems of spinning plants) for the production of fire briquettes (Lyakhovichi Flax Plant OJSC, Pruzhany Flax Plant OJSC, Dubrovensky Flax Plant OJSC, Orekhovsky Flax Plant OJSC, Kormalen Municipal Unitary Enterprise, Korelichi-Len OJSC, Korelichi-Len OJSC "Volozhin Flax Mill", OJSC "Slutsk Flax Factory", OJSC "Gorkilen");
• production of linseed oil (JSC Lyakhovichi Flax Plant, JSC Korelichi-Len; JSC Volozhin Flax Mill) ;
• production of flaxseed cake (JSC Lyakhovichi Flax Plant, JSC Korelichi-Len; JSC Volozhin Flax Mill) .

For reference:

Fire briquettes are sold to organizations of housing and communal services, healthcare, education, and other consumers as fuel. Flaxseed cake is sold to feed mill enterprises and agricultural organizations (for feed purposes); flaxseed cake is used for the production of textile materials, sorbents, filters, adhesive solutions, insulation materials, construction and furniture boards, paper, and fuel briquettes. Oil is produced from flax seeds for food, medicinal and cosmetic purposes; The cake is used as food protein and straw-protein feed for animals, etc. 
                 
Waste from flax processing is used by MedLen LLC and Medvatfarm LLC in the production of sanitary products.

For reference:

MedLen LLC produces diapers and absorbent sheets, napkins, cotton pads, cotton swabs, etc.;

Medvatpharm LLC – medical cotton wool, dental rollers, cotton balls, bandages, baby diapers, cotton swabs and disks .

The country has created conditions for the balanced development of Belarusian regions. As a consequence, there is a trend of economic growth in the regions under sanctions pressure.

For reference:

Based on the results of 8 months of 2023, all regions ensured an increase in gross regional product from 100.5% in the Mogilev region to 108.2% in the Minsk region (which suffered the main impact of sanctions in 2022 ). 
   
In 2023, industry was the driving force of growth in the regions - there was an increase in the production of industrial products in almost all regions (recovery dynamics were recorded in the Mogilev region) .

Investment activity is increasing in the regions (the growth of investments in fixed assets ranged from 103.4% in the Grodno region to 125.8% in the Brest region).

The growth of household incomes is ensured in conjunction with a reduction in the differentiation of regions in terms of wages.

For reference:

Real wages increased in all regions of the country: from 104.4% in Minsk to 112.3% in the Brest region. 
   
In all regions, over the 8 months of 2023, compared to January–August 2022, the number of workers working with lost working time decreased.

At the same time, there is an improvement in the business environment and business climate.

For reference:

Based on the results of January–August 2023, the difference between created and liquidated commercial organizations was “plus” 1,682 organizations (138.9% compared to January–August 2022). 
   
The quantitative growth of commercial organizations contributes to the positive dynamics of quality indicators. Thus, the volume of exports of goods from small and medium-sized enterprises (hereinafter referred to as SMEs) for eight months of 2023 compared to the same period in 2022 amounted to 124.6% versus 108.4% for large organizations. At the same time, budget revenues from SMEs over the specified period increased by 11.1%.

Maintaining price and financial stability

Price stability means persistently low growth rates of consumer prices in the country.

A low level of inflation protects the income and savings of citizens, makes economic conditions more predictable for companies and the population, and thereby contributes to the development of investment activity and sustainable economic growth.

A high level of inflation has a negative impact on the purchasing power of money, reducing the real value of monetary income and savings of the population and organizations. At the same time, a high level of inflation also suppresses the incentives of enterprises to plan and implement long-term investment projects and reduces the ability of the economy to realize its production potential.

At the same time, falling prices (deflation) are no less dangerous for the national economy. When prices for goods begin to fall, consumers gradually postpone purchases for a longer period in anticipation of their further reduction in price. Accordingly, sales volumes and profits of enterprises are declining, there are no opportunities to increase wages, there are no incentives to expand production and introduce innovative technologies, and unemployment is growing. All this impedes economic growth and carries costs no less than high inflation.

Thus, it is precisely predictable inflation at a low level that allows producers to have incentives to develop, and consumers to build a savings and consumption model that promotes welfare growth.

For reference:

Research results show that, depending on the degree of development of the country's economy, the most attractive conditions for economic growth are formed with an annual inflation rate in the range from 1 to 5%. Lower inflation will restrain structural changes in the economy and reduce wage flexibility, while higher inflation will increase the costs of ensuring the well-being of citizens. 
 
Thanks to the coordinated actions of the National Bank and the Government, inflation in the Republic of Belarus in 2017–2019 dropped to 4–6%.

However, during 2020–2022, the Republic of Belarus faced a number of serious external and internal challenges, which led to an increased intensity of inflation processes. The Belarusian economy was negatively impacted by the coronavirus pandemic, which led to supply shocks in global food markets, increased logistics costs, and disruptions in the supply chains of raw materials and finished products. The unprecedented money issue caused a record increase in world prices.

At the same time, our country faced sanctions pressure from unfriendly countries. The sanctions led to the closure of a number of traditional foreign sales markets, blocking of trade flows, a ban on the transit of Belarusian products, etc.

However, the Program for Socio-Economic Development of the Republic of Belarus for 2021–2025 defines an increase in consumer prices of no more than 5% as a benchmark for price stability.

As a result of the measures taken by the National Bank and the Government (the introduction in October 2022 of a price regulation system, which neutralized the transfer of unreasonable risks and business costs into prices, and subsequently contributed to the formation of a fair price, etc.), in Belarus in September 2023, the historical minimum of annual inflation is at the level of 2.0% (with a forecast of 7.0–8.0% at the end of the year), which is lower than that of a number of European countries.

For reference:

As of September 1, 2023, the annual inflation rate in European countries averaged 5.9% (according to the Statistical Service of the European Union, hereinafter referred to as Eurostat). 
         
According to the Statistical Service of Latvia, the average annual inflation at the end of 2022 was 17.3%, which is the highest figure in the last 25 years (inflation in 2020 - 0.2%, 2021 - 3.3%). High inflation is due to the “helicopter” money that has been pouring into the economy for a long time due to COVID-19. 
     
In Poland, as of July 1, 2023, inflation was 10.8% on an annualized basis. The inflation rate had the greatest impact on the increase in prices for energy resources (+16.7%), food products (+15.6%) and automobile fuel (+15.5%). According to the forecast of the National Bank of Poland, inflation in 2023 will average 11.9%. As the media write, “in this regard, people began to steal more often, since they cannot afford to make purchases at the same level.”

According to the Czech Statistical Office, in August 2023, consumer price growth was 8.5%. The most significant impact on the growth of consumer prices was exerted by fuel prices, which have been rising for three months in a row. Over the month, prices for fuel and oil increased by 7.7%. On an annual basis, prices for goods as a whole increased by 9.4%, and prices for services by 7.1%. At the same time, prices for rental apartments increased by 7.6%, water - by 16.3%, sewerage - by 26.9%, electricity - by 23.1%, natural gas - by 34.5%, solid fuel - by 22.3%, heat and hot water - by 37.3%. 
 
As of September 1, 2023, the annual inflation rate was 5.2% in Russia, 13.1% in Kazakhstan, 9.5% in Kyrgyzstan, and 4.2% in Tajikistan.
    
Necessary conditions for ensuring a low level of inflation in the country are ensuring financial stability and minimizing the consequences of external pressure. The stable operation of the insurance sector, the segment of leasing organizations and other financial intermediaries has been maintained in the Republic of Belarus. Continuity of functioning of all payment systems (including retail) is ensured . The improved payment infrastructure made it possible to support international settlements of business entities and individuals.

Ensuring energy security

Over the past 10 years, our country has put into operation 2.1 thousand MW of new generating capacity, 23.5 thousand km of power lines, 3.4 thousand MVA of transformer capacity, which has significantly strengthened the reserves of the unified energy system. The first unit of the Belarusian Nuclear Power Plant (hereinafter referred to as BelNPP) was put into operation, energy sources using local fuels (peat and wood fuel, biogas, renewable energy of air and water flows, etc.) were launched, modern wind farms and solar power plants were created, technologies were widely developed energy saving. Due to the implementation of these and other areas, the energy intensity of the country's GDP decreased by 1.2 times.

Belarus has completely abandoned the import of electricity.

For reference:

Since the launch of power unit No. 1 of the BelNPP from November 3, 2020 to September 30, 2023, electricity generation amounted to 19.6 billion kWh, which made it possible to replace about 5.2 billion cubic meters. m of natural gas imported from Russia. 
     
Head of State A.G. Lukashenko set the task of achieving no more than 65% of the share of natural gas in the production of thermal and electrical energy by the end of 2025.

For reference:

According to the Ministry of Energy of the Republic of Belarus, compared to 2021, energy imports in 2022 decreased significantly: for electricity - almost 15 times, oil - by 39%, natural gas - by 5.3%, coal - by 54%. 
     
Measures are being taken to increase the volume of sales of peat fuel to the country's industrial enterprises, which is the most affordable and competitive.

For reference:

Belarus is among the top European countries in terms of peat reserves. Peat reserves in the country are estimated at 2.4 billion tons. The use of peat makes it possible to replace up to 450 million cubic meters annually. m of natural gas. 
   
The fund under development, available for industrial development, includes 99.1 thousand hectares of peat deposits with peat reserves of 302.1 million tons, which will be sufficient for use in the economy for the next 100 years. 
 
Facilities of the Belarusian energy system using wind and water energy generated 361 million kWh in 2022, which is 269 million kWh higher than in 2015 (an increase of 392% compared to 2015) .

For reference:

The Belarusian energy system operates 24 hydroelectric power plants with a total installed capacity of 88.11 MW. Of these, the most powerful are: Vitebsk Hydroelectric Power Station (40.0 MW), Polotsk Hydroelectric Power Station (21.66 MW) on the river. Western Dvina, Grodno hydroelectric power station (17 MW) on the river. Neman. 
   
The Novogrudok wind power station in the area of ​​the village is successfully operated . Grabniki village with a total installed capacity of 9.0 MW. 
       
According to Eurostat, in the second quarter of 2023, the price of imported gas from Russia to Europe was 4.2 times higher than the cost of Russian gas imported by Belarus.

According to analysts, in 2024 the average price of Russian gas for Europe will be $481.7 per 1 thousand cubic meters. m.

Забеспячэнне харчовай бяспекі

According to a report by the Food and Agriculture Organization of the United Nations, about 735 million people will face hunger in 2022.

For reference:

In 2022, 58 countries around the world were in a food crisis. These are countries in Africa and Asia, primarily Congo, Ethiopia, Nigeria, Afghanistan, and Syria. Africa remains the hardest-hit region, where one in five people are hungry, more than double the global average. The UN recognizes that “the sustainable development goals for food security and nutrition cannot be achieved in the foreseeable future.” 
         
The main reason for food shortages in many countries is military conflicts, which make it impossible to conduct and develop agriculture - approximately 119 million people find themselves in such conditions.

The problem is negatively affected by economic instability, as well as the influence of extreme weather conditions in Africa, India, China, South America, and the USA.

The UN estimates that global food import spending increased by 11% in 2022, approaching a record $2 trillion. The cost of importing resources for their production has increased by almost 50%.

Trade barriers have a negative impact on global food security.

For reference:

By the end of 2022, about 30 countries around the world applied restrictions or bans on the export of agri-food products, which leads not only to economic problems. 
 
Thus, the export of agricultural products from Ukraine led not only to mass protests by Bulgarian agricultural producers in September 2023, but also to a political conflict at the level of the presidents of Ukraine and Poland. 
   
Global challenges and trends observed in the world market confirm the correctness of the strategy chosen by the Republic of Belarus more than 20 years ago, when, on behalf of the Head of State, the first Concept for ensuring national food security was developed.

In our country, 22% of the country’s population lives in rural areas, and more than 7% of those employed in the real sector of the economy work in agriculture.

Даведачна:

The central link in the Belarusian agro-industrial complex is agriculture, the share of which in the gross domestic product in recent years has been about 7%. Another about 5% is the contribution to the country’s GDP from organizations processing agricultural raw materials. 
   
The basis of the republic’s agriculture is large-scale commodity production, which accounts for more than 80% of gross output, about 17% of production is provided by personal subsidiary plots of citizens and about 3% by peasant (farm) farms.

In terms of the size of agricultural land per capita, our country is among the top twenty world leaders: 0.62 hectares, compared with 0.2 hectares on average for the EU and the world community. 
 
The world market situation today is in favor of the manufacturer, opening up new niches for original Belarusian products made from high-quality raw materials, using modern technologies and meeting one of the highest safety requirements in the world. A good example is that every fourth kilogram of cheese and every seventh liter of milk sold in Russia is produced in Belarus.

Belarus has achieved a high specific level of production of basic products. It significantly exceeds the indicators of other EAEU states. Thus, Belarus produces 417 kg of potatoes per person per year, 134 kg of meat, 850 kg of milk, and 374 eggs. 
 
The level of self-sufficiency in the main types of agricultural products in our country annually exceeds 100%. Including meat – 133%, milk – 267%, eggs – 126%. This is enough to sustainably meet the needs of the domestic market for food and raw materials, as well as for export sales.

For reference:

On average per capita in Belarus per year, the following is consumed: meat - about 98 kg, dairy products - 238 kg, fruits, berries and their processed products - 92 kg, vegetables, melons and their processed products - 174 kg, potatoes and potato products - 161 kg, bakery products - 78 kg, sugar - about 40 kg, vegetable oil - 18 kg, eggs - 265 pcs. 
   
In 2022, farms of all categories produced products worth almost 32 billion rubles, which in comparable prices is 3.6% more than last year. The industry’s contribution to the country’s GDP is increasing and has reached 7.7%. The share of investments in fixed assets in agriculture, forestry and fisheries in their total volume increased to 15.9%.

In the context of the growing influence of external challenges and threats, it is the high potential of domestic production and a verified system of state regulation of the market that have become the fundamental basis for the sustainability of national food security.

For reference:

As of October 31, 2023, 9096.2 thousand tons of grain, including rapeseed, were threshed in Belarus in all categories of farms. 
   
201.9 thousand hectares of corn for grain were harvested, 1668.6 thousand tons were threshed with a yield of 82.7 c/ha. 
 
22,400.0 thousand tons of green mass of corn were collected.

Sugar beet harvesting continues : 3,734.3 thousand tons have been dug up with a yield of 472.0 c/ha. 
 
Vegetables were harvested on 5.04 thousand hectares of area, a total of 150.6 thousand were collected. 
   
Attention to speakers: it is advisable to provide updated information here as of the time of the presentation . 
 
The monitoring results show that food security in the Republic of Belarus is fully ensured according to qualitative and quantitative criteria. All tasks set in the field of increasing the sustainability of agricultural production, the quality of nutrition of the population and the development of export potential are being consistently implemented.

Foreign economic activity of the Republic of Belarus

Our country implements a multi-vector foreign economic policy and actively participates in international integration processes.

In January–August 2023, the foreign trade turnover of the Republic of Belarus amounted to $54.1 billion (an increase of 14.8% compared to the same period in 2022) , exports amounted to $25.9 billion (an increase of 8.4%) , imports – 28.2 billion US dollars (an increase of 21.4%) .

The Republic of Belarus exports goods to 150 countries.

The main vector of integration is considered to be the deepening of bilateral integration with the Russian Federation within the framework of the Union State in compliance with national interests.

For reference:

Trade with Russia accounts for 58% of all export-import transactions.

At the end of 2022, a record growth in Belarusian-Russian trade turnover was recorded - more than $50 billion, which continued this year. In the first half of 2023, growth compared to the same period in 2022 was 16.9%.

The growth rate of exports to Russia is consistently high: based on the results of eight months of 2023, it amounted to 124.9%. The volume of shipments reached a historical record of $16.7 billion in January–August 2023, or 64.4% of all merchandise exports (55.9% in January–August 2022).

The departure of Western suppliers and manufacturers allowed us to significantly increase our presence on the Russian market - the share of Belarusian exports in Russian imports increased to 8.9% (January–July 2023) . The share of Belarusian goods in Russian imports of machinery, equipment and vehicles, chemical products, wood products and ferrous metals has increased.

Trade flows from the markets of Western countries and Ukraine are completely reoriented to the markets of friendly countries. At the same time, the falling export volumes were not only restored, but also increased. In January–August 2023, the value of supplies to the markets of friendly countries increased 1.3 times compared to the same period last year. The share of friendly countries in exports increased by 16%.

Mutually beneficial cooperation within the framework of international integration associations is deepening. Export supplies to the markets of the EAEU countries increased by almost a quarter (by 23.4%) , to the CIS countries - by 14.8%. The share of the EAEU countries in the total export volume was 67.2%, the CIS countries – 69.5%.

Belarus continues to diversify its external geographical contours, increasing its presence in the markets of the “far arc” countries. New trade and economic ties are being built and logistics chains are being formed. Deliveries to Asian countries increased by 1.6 times, North and South America – by 1.2 times. The company is steadily entering the Chinese market (export growth by 3.6%) . In the future, we will develop cooperation with African countries.

In the structure of the export basket, there are fewer raw materials and supplies, and more investment goods (their share according to the results of the eight months of 2023 was about 13%, which is the maximum over the last 16 years) . Exports of trucks this year increased by almost 14%, trailers and semi-trailers by 2.7 times, buses by 1.2 times, televisions and monitors by 3.4 times.

In 2022, the republic reached a record figure for the volume of food supplies to the foreign market - $8.3 billion, which is 24% more than in 2021. A significant share (88%) of products are exported in processed or partially processed form.

Exports of construction services are growing at double-digit rates (120% in 8 months of 2023), mainly to Russia. Belarusian builders take an active part in the construction of schools and preschool educational institutions in Russia, and also participate in the reconstruction of sports facilities.

The visa-free entry procedure introduced by our country for citizens of Lithuania, Latvia and Poland is bringing results. As a result, exports of tourism services increased over 8 months by 28.7%, including to Russia by 1.3 times, Latvia by 1.9 times, Lithuania by 1.4 times, Poland by 1.2 times .

Exports of healthcare services over this period increased to Russia by 1.3 times, Latvia by 1.9 times, Lithuania by 1.9 times, Serbia by 3.9 times, Bosnia and Herzegovina by 2.2 times.

Demand for Belarusian education is growing among students from China, Uzbekistan, Sri Lanka, Russia, India, Lebanon, Nigeria - as a result, exports of education services increased by 9.9% over 8 months.

It is noteworthy that unfriendly actions of certain foreign states towards the Republic of Belarus have negative consequences for both sides.

European business, which previously operated very successfully in Belarus, suffered in many ways. Due to directive decisions of the European Union, many European companies that worked effectively with Belarusian partners suspended their activities in Belarus.

Foreign exporters who sold their products to Belarus suffered. They had to abandon the existing system of mutually beneficial cooperation and look for new markets and reliable buyers.

The lack of supplies of a number of commodity items from Belarus, the import of which was prohibited by the European Union, forced our European trading partners to look for new suppliers, which, naturally, had an extremely negative impact on logistics and the cost of supplies, as well as the final cost of products.

The forced rise in prices for many Belarusian goods and services, caused by restrictions imposed against Belarus, is increasingly hitting European consumers, causing discontent among ordinary citizens of other countries.

For reference:

In September 2023, the popular German newspaper Die Welt published the following results of a survey by the sociological service YouGov: in Germany, monthly expenses of Germans have increased significantly against the backdrop of inflation over the past year, as a result - for every fourth resident of Germany they exceed income; To cope with the effects of inflation, almost two-thirds of respondents choose to cut expenses, another 24% find a part-time job, and 23% of respondents are trying to sell their property. 
           
Due to inflation, 33% of Germans are forced to buy less fresh food and opt for canned goods.

According to experts at the Institute of Economic and Social Sciences (WSI) of the Hans Böckler Foundation, “a complicated financial situation in many households in the country could lead to a serious increase in social tension and a loss of confidence in government institutions.” 

*****

In conditions of unprecedented external pressure, the Belarusian state confidently maintains a socially oriented course of development of the national economy.

Decree of the President of the Republic of Belarus dated October 2, 2023 No. 307 determined the most important parameters of the forecast of socio-economic development of the Republic of Belarus for 2024:

gross domestic product – an increase of 3.8%;

real disposable income of the population, as a percentage by 2023 – growth by 3.5%;

investments in fixed assets, as a percentage by 2023 (at comparable prices) – growth by 3.9%

export of goods and services, as a percentage by 2023 - an increase of 7.6%.

Belarusian leader A.G. Lukashenko, at a meeting held on October 19, 2023 with the head of the Republic of Mordovia A.A. Zdunov, said: “Our battles today continue in the fields, in factories, in the cultural, information spheres, in schools and universities - for our the truth, our development prospects, our right to be sovereign and independent. All this will happen if we have a strong economy. This is the basis of everything . "