Belarus IT sector decline intensifies, study shows

The output of the Belarusian IT sector decreased by 10% over the year / sample photo pixabay.com

The Belarusian authorities are not yet able to restore the GDP level of the past. Compared with November 2021, the index is negative again and amounts to minus 4.7%. The same situation was in October, states the review of the Eurasian Development Bank.

Among the positive trends, the bank experts note "a slowdown in the decline of output in the manufacturing industry." They believe the economy is gradually adapting to the new conditions. But "at the same time, the fall in the IT sector has intensified, exceeding 10% year-on-year in November. Investment activity also remains low.  Capital investment fell by 25.3% YoY in November, including machinery, equipment and vehicles by 42.2% YoY.

According to the year's results, the EDB believes that Belarus' GDP will decrease by 4.6%.

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