Lukashenko dismisses Belarus’ losses from Western sanctions as minuscule amid economic growth in 2021

<p> MINSK, Dec 1 - PrimePress. Belarus’ losses from Western sanctions are minuscule against the background of economic growth in the country in 2021. President of Belarus Alexander Lukashenko made a statement to this effect on 30 November in an interview with Dmitry Kiselyov, General Director at the Russian state news agency MIA Russia Today. </p> <p>   </p> <p> “I can’t cite any figures to illustrate the losses. We are trying to minimize it [the impact of sanctions]. Naturally, we will lose something. But compared to the growth we have had this year, this damage is minuscule. I have not event given an instruction to make calculations, because this will be more expensive than the damage itself,” Lukashenko said. </p> <p>   </p> <p> He noted that enterprises in Belarus did not go into lockdown during the pandemic. ”We did not stop the economy, and we were lucky in that regard,” Lukashenko said, explaining that Belarusian producers got a chance to tap more into foreign markets at a time when other countries were on lockdown. </p> <p>   </p> <p> “They imposed lockdown and other measures. Meanwhile we continued producing consumer goods... When Russia had its hiatus, Belarus continued working supplying more to your market. We jumped at the opportunity to increase our sales on this huge market. That trend continued this year. Exports did well. Therefore, this year is not bad for us,” said Lukashenko. In his words, this helps Belarus minimize these losses from sanctions. </p> <p>   </p> <p> As previously reported, the political crisis in Belarus began after the presidential election of 9 August 2020, in which Alexander Lukashenko was declared the winner for the sixth time with 80.1% of the vote. For several months, there were mass protests and violent crackdowns in the country. Western countries imposed four sets of sanctions on a number of Belarusian individuals and companies. The fifth parcel has received a preliminary approval. </p> <p>   </p> <p> Political and economic sanctions have also been imposed against Belarus by the US, the UK, Canada and some of their allies. However, many economic sanctions have not yet become fully effective. For example, the US sanctions on exports of Belarusian potash fertilizers will be effective from 8 December 2021, while the EU sanctions only apply to new contracts. </p> <p>   </p> <p> Thus, Belarus' gross domestic product increased by 2.4% year on year in January-October 2021 to Br143.259 billion ($58.049 billion, according to the exchange rate of the National Bank of Belarus). </p> <p>   </p> <p> Belarus’ foreign exchange revenues from exports of goods, services, non-financial transfers of companies and private households increased by 31.8% year on year in January-September 2021 to $34.981 billion. </p> <p>   </p> <p> Exports of goods from Belarus increased by 35.9% year on year in January-October 2021 up to $31.923 billion, including to the Commonwealth of Independent States by 30.4% to $18.858 billion, to the Eurasian Economic Union - by 23.7% to $14.089 billion, to the Russian Federation - also by 23.7% to $13.237 billion. Exports of Belarusian goods to non-CIS countries increased by 44.9% up to $13.065 billion in January-October 2021, while to the EU - 1.9 times up to $7.95 billion. End </p>

2021-12-02

Primepress