Posted: 29.11.2022 09:46:00

Belarus’ socio-economic development forecast for 2023 approved

On November 28th, Head of State Aleksandr Lukashenko signed Decree No. 411 On Most Important Parameters of Belarus’ Social and Economic Development for 2023, the Belarusian leader’s press service informed

photo: www.belta.by

In particular, the GDP growth is planned at the rate of 103.8 percent against 2022. Real disposable household income is to make 104.1 percent, investments in fixed assets – 122.3 percent, and exports of goods and services – 105.5 percent.

A target plan for 2023 will be approved by the Government to achieve the most important parameters, and it will unite all measures and resources necessary for a smooth and efficient operation of organisations under sanctions, and also for enhancement of people’s standard of living.

Increased investments in fixed assets are supposed to become the main source of economic growth next year, and injections into three key areas are planned.

Br7.7bn will go for construction of housing and relevant infrastructure. 4.3m square metres of accommodation will be built, including 1.3m sq. m. with state support. At least 745,000 sq. m. of rental housing are planned.

Investments in the regional infrastructure creation and development will make Br7.9bn. It is planned to build 17 preschool institutions, 9 institutions of general secondary education, 22 sports and recreation complexes, 7 swimming pools, 21 sports and 46 health facilities, 22 bridges and overpasses on republican highways, and 30 bridges on local roads.

Br31.2bn will be injected into investment projects and technical reequipment. Next year, 129 investment projects, 14 integration projects and 51 import-substituting production projects are planned.

To achieve the projected economic growth in 2023, exports are planned to make $47.7bn, at a growth rate of 105.5 percent. Export losses to Western countries and Ukraine will be compensated by increasing sales to the markets of Russia, China, the Middle East, Central Asia and Africa. Supplies to Russia are planned to grow by 6.5 percent, to China – by 15 percent, and to Africa – by 10 percent.

As a result, the foreign trade surplus is expected to make $1.6bn, and this will ensure a balanced state of payments, produce a positive impact on maintaining the country's economic security at the proper level.

In the economy as a whole, the nominal accrued average monthly salary will make Br1,938. In the public sector, it will be Br1,454.