National News

Belarus' measures to counter sanctions bring positive results

Measures to counter sanctions bring positive results, Belarusian Deputy Economy Minister Tatiana Brantsevich said as she spoke at a meeting of the Council on Sustainable Development on 18 November, BelTA learned from the press service of the ministry.

According to the deputy minister, the government has taken timely measures to counteract the sanctions and they are already giving positive results. The economy is doing well and has been showing gradual recovery since August.

“One of the main criteria of sustainability is the participation of the population in the economic life of the country and, accordingly, the unemployment rate. In January-September 2022, the jobless rate decreased to 3.4%. Moreover, the demand for labor is growing. The second important point in our work is business promotion. In a joint project with UNDP on international technical assistance, we are increasing the availability of microfinance services in the regions to stimulate the development of the business sector. In March, the Economy Ministry launched an electronic register of administrative procedures. More than 70% of them have already been added there. Further development of the register provides for the integration of a unique tool - an administrative burden index. It will help provide an automatic analysis of the burden on business entities,” said Tatiana Brantsevich.

Speaking about the plans for 2023, the deputy minister stressed that the key task is to ensure economic growth and implement the provisions of the five-year program approved by the sixth Belarusian People's Congress. Efforts will be focused primarily on the development of infrastructure, modernization of enterprises, implementation of import-substituting projects and One District-One Project local initiatives. The chosen vector is closely related to Sustainable Development Goals No.8 and No.9.

“External constraints are not only the risks to achieving the SDGs but also new opportunities, a powerful motivation to use the available reserves and engage all resources to ensure sustainable development. Today it is necessary to make maximum joint efforts in order to improve the wellbeing of the Belarusian people in the near future through joint efforts,” the deputy minister said.