Lukashenko says the Belarusian economy is under unprecedented external pressure from Reuters
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MOSCOW (Reuters) – Belarusian leader Alexander Lukashenko said on Friday that the economy was under unprecedented external pressure as the US and its allies imposed sanctions on dozens of Belarusian people and entities a day later.
The latest round of sanctions is aimed at sharply increasing pressure on Lukashenko, accusing Western governments of manipulating presidential elections, ordering repression of the opposition and pushing migrants from the Middle East to the border with Poland – all of which he denies.
“Our economy is undergoing unprecedented scale and external pressure,” Belarus State News Agency Lukashenko said. “The rhetoric is aggressive.”
Lukashenko said Belarus had managed to sustain economic growth. The World Bank shrank by 0.9% last year and is expected to grow by 1.2% in 2021, according to the October forecast.
Belarusian authorities need to ensure that inflation falls to 6% by 2022, Lukashenko said, down from 10.5% on November 1st.
“We expect single-digit inflation to be 6% in 2022,” he said.
Shares of global potash producers rose on Thursday following sanctions against Belarus Potash Company (BPC), a Belarussali state-owned potash producer and exporter branch that earns foreign exchange earnings in Minsk.
Following the imposition of sanctions, the BPC said on Friday that it would work in existing legal frameworks, but did not clarify.
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