Snopkov revealed details of meeting with the President
We have prospects to reach pre-sanction volumes of exports of certain goods this year and, to achieve this, Russian ports will be also involved – as noted by Belarus’ First Deputy Prime Minister Nikolai Snopkov, commenting on the results of a meeting with the President on the exports of Belarusian goods
The First Deputy Prime Minister recalled that by the end of 2022, in monetary terms, exports had reached the pre-sanction level. Moreover, a record positive balance was registered in foreign trade, “Historically high trade balance: $4.5bn. The most important thing is the result. The result that we feel in the country’s balance of payments is the net balance. The historical figure of $4.5bn is very significant. It creates stability in the foreign exchange market and security of gold reserves. Actually, it forms the stability and tranquillity of the financial sector in the country as a whole.”
Nikolai Snopkov drew attention to the fact that we also feel this stability in our own wallets, recalling that the level of the average salary in US Dollar equivalent has also seen a historically high level (about $660 as of November), “A stable situation in the financial, in the currency component of our economy is important; statistics sometimes do not reflect the underlying economic processes that are taking place.”
The First Deputy PM also commented on why, in volume terms, exports of certain goods failed to reach pre-sanction indicators, “We have exceeded the volume across many positions (including those relating to investment imports): tractors, harvesters, refrigerators, elevators. However, there are positions that we are obliged to improve this year. And the best part: there is a prospect that we will reach the pre-sanction level in terms of their export volume.”
