Import-substituting products worth $2 billion will be produced in Minsk

In 2022, it is planned to produce products worth $1.9 billion under the import substitution program. This is 14% more than in 2021, Minsk-News writes. We recently wrote that Belarus' gold and foreign exchange reserves decreased by 4.5% in May.

It is planned that small and medium-sized businesses will produce half of the necessary products worth of $950 million in amount of 473 commodity items.

In order to reduce dependence on imports, Minsk annually develops and implements an import substitution program. In 2019, the volume of production of import-substituting products amounted to $1.5 billion. In 2020 — $1.61 billion, in 2021 – $1.68 billion.

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