MINSK, August 9. /TASS/: Belarusian exports to Russia reached a historical high and amounted to $2 bln per month, Prime Minister of Belarus Roman Golovchenko announced on Tuesday.
"Exports of goods are growing every month, and in June it almost reached the level of last year, and to Russia it reached a historical maximum of $2 bln per month," BelTA news agency quoted the Belarusian Prime Minister.
According to him, "withdrawal or suspension of activities of foreign companies in Russia opens the market for all industries - from mechanical engineering to food." "We plan to raise exports to Russia up to $23 bln with an increase of $6.5 bln, or additional 40% compared to last year," Golovchenko was quoted by SB news. He recalled that "officials assigned to the Russian regions have specific road maps for commodity items and services to increase exports to the respective regions." The Prime Minister added that Belarusian manufacturers plan to increase exports of their goods to China by $1 bln. "Half of it is food. Its growth will be possible due to a significant reduction in supplies to China from Ukraine," he said.
According to Golovchenko, "the economy has declined under sanctions, but it shows historically high qualitative indicators of balance." "This reflects the economy's high adaptability to external shocks, as well as the adequacy and efficiency of the measures taken," the prime minister said. In particular, he emphasized that the gross external debt is at a minimum over the past 7 years, the debt load of businesses is falling, and the debt-to-revenue ratio is slightly more than 50%, which was the best indicator during the previous six years.
At the same time, the share of unprofitable organizations decreased 1.5-fold, the profitability of sales was at the level of 8.1% and was at a maximum over the last 10 years. In addition, foreign direct investment on a net basis the Q1 reached $1.8 bln, the highest on record, Golovchenko said. "This confirms that, despite external pressure, the country's investment image is preserved, it reflects its reliability, and active work is underway on reinvesting funds in the economy by foreign companies," he added.
