Belarus approves forecasts for 2023

The most important parameters of Belarus' social and economic development forecast for the year 2023 have been approved. The relevant decree was signed by the head of state. In particular, the GDP growth is planned at 103.8% compared to the current year, real income of the population at 104.1%, investment in fixed capital at 122.3%, exports of goods and services at 105.5%. The main source of economic growth next year will be an increase in capital investment. Investments are supposed to be made in three main areas: housing construction, building and development of infrastructure in the regions, investment projects and technical re-equipment. The emphasis will be on import substitution. It is planned that the nominal average monthly salary will amount to 1938 rubles, and 1454 in the public sector. Presidential decree also approved the main directions of monetary policy in 2023. The guidelines will aim to slow inflation to 7-8% and maintain financial stability.