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Russia, Belarus cope with sanctions, countries' GDP growth surpasses European

According to Russian Deputy Prime Minister Alexey Overchuk, trade turnover between Russia and Belarus increased by 8.4% from January to October 2023 year-on-year

MOSCOW, December 22. /TASS/. Despite Western sanctions, Russia and Belarus are ending 2023 with good macroeconomic metrics, and GDP growth in both countries is higher than in the European Union, Russian Deputy Prime Minister Alexey Overchuk at a meeting of the High-Level Group of the Council of Ministers of the Union State of Russia and Belarus.

"Despite all of the pressure placed on our countries, both Russia and Belarus end the year with high macroeconomic indicators. We predict GDP growth in Russia to be at least 3.5% by the end of the year, and 3.8% in Belarus during the previous 11 months. I want to emphasize that these figures are much higher than in Europe, which imposed sanctions on us," he said.

According to Overchuk, trade turnover between Russia and Belarus increased by 8.4% from January to October 2023 year-on-year. He further stated that the implementation of 28 union programs also provides significant support for the development of the two countries' economy.

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Belarus Trade & Cooperation

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