Belarusian minister: Sectors hit by sanctions will recover quickly

The sectors that have been affected by the sanctions will recover soon, Belarusian Economy Minister Aleksandr Chervyakov said at the expert media forum “The Union State: Economic Integration - Development Tasks” ", BelTA has learned.

"Today it is important to ensure that enterprises keep going. If GDP slows down, it will happen due to the objective reasons related to the tough sanctions. Everything depends on how quickly we can adapt to these conditions. Today, the governments of Belarus and the Russian Federation are making prompt decisions. We will quickly restore the sectors that have been affected by the sanctions," Aleksandr Chervyakov noted.

According to him, Belarus has been living under sanctions for the second year. "Last year, our economy had to deal with restrictions and their influence. In February of this year, when they imposed the unprecedented amount of sanctions, we had to change our plans in order to resist this pressure," the minister said. “Now we have a completely new agenda within the framework of the Union State. New opportunities are emerging. The main potential is here and we need to tap into it very actively."

Today primary focus is on the following aspects: redirection of export flows to the markets of Russia, China, India, and the EAEU states and also on logistics, import substitution, and the financial system of mutual settlements.