MINSK, November 15. /TASS/. Belarus’ GDP increased by 3.8% compared to the same period last year, reaching the target for the year, according to the preliminary results of the ten month of the year, Economy Minister Alexander Chervyakov told reporters.

"Preliminary results for the first ten months are already available. I'm pleased to report that we have met our annual objective of 103.8%. That means, we have exceeded the GDP target set by the President," BelTA quoted the minister.

Chervyakov explained GDP growth as the recovery of practically all economic sectors.

Belarus' GDP increased by 3.5% in the first nine months of the year, according to prior reports. The country’s GDP declined by 4.7% in 2022 compared to 2021. The government anticipates 3.8% GDP growth in 2023. GDP growth in 2024 is likewise projected to be 3.8%.