Belarusian economy continues to adapt to new conditions

MINSK, 29 July (BelTA) – The Belarusian economy continues adapting to new operation conditions. Dmitry Murin, member of the Board, Head of the Central Office for Monetary Policy and Economic Analysis of the National Bank of the Republic of Belarus (NBRB), mentioned it at an expanded-participation session of the central bank’s board, BelTA has learned.

Dmitry Murin said: “On the whole, the economy continues adapting to new operation conditions. In H1 2023 the gross domestic product increased by 2% as against the same period of last year in comparable prices. Meanwhile, the GDP’s monthly dynamics demonstrated a steady upward trend throughout the first half of the year.”

In June 2023 the GDP growth reached 7.9% in comparison with June 2022. The economic growth was fueled by positive dynamics in agriculture (2.7% up), manufacturing sector (6% up), civil engineering (6.1% up), and trade (5.5% up). Meanwhile, the IT sector and the transport industry had a negative effect on economic growth. They shrank by 17.3% and 5.8% respectively, the official explained.


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