Posted: 15.02.2023 12:44:00

Economy Minister: Hungary is Belarus’ reliable partner

Belarus’ Economy Minister Aleksandr Chervyakov said that during his meeting with the Minister of Foreign Affairs and Trade of Hungary, Peter Szijjarto, in Minsk, the Economy Ministry reports


Mr. Chervyakov expressed special gratitude for Hungary's consistent and principled position towards Belarus on international platforms, also informing on the results of the Belarusian economy’s work under sanctions.

"Despite an unprecedented external pressure, Belarus’ GDP decreased by 4.7 percent at the end of the year, and not by 20 percent as various economic experts had predicted. Losses in the markets of Western countries and Ukraine were compensated by more than 80 percent due to supplies in other directions. We registered a record positive foreign trade balance: $4.3bn. In turn, inflation reduced to make 12.8 percent,” the Economy Minister said.

The sides noted that sanctions are counterproductive, and not only Belarus, but also Western countries experience losses as a result of them.

According to Mr. Chervyakov, Hungary is a reliable partner of Belarus. “Unfortunately, due to sanctions restrictions, mutual trade has decreased by more than a third. At the same time, our diplomatic missions, ministries, the Belarusian-Hungarian Intergovernmental Commission on Economic Co-operation, and business circles continue a dialogue, and this is very important. Such regular contacts create grounds for intensifying trade and economic liaisons. We are ready to support Hungarian partners in the implementation of mutually beneficial investment projects. The main areas of co-operation include nuclear energy, agriculture, and pharmaceuticals. I am convinced that the development of co-operation between Belarus and Hungary in certain areas will enable us to bring our bilateral relations to a qualitatively new level. For our part, we are open to any proposals," he stressed.