International reserve assets of the Republic of Belarus as of April 1, 2021, according to preliminary data, amounted to USD 6,940.0 million (in equivalent), the press service of the National Bank reported.
In March 2021, gold and foreign exchange reserves decreased by USD 174.5 million, or by 2.5%, while in February the decrease was USD 88.9 million, or 1.2%.
In total, for the first 3 months of 2021, the reduction in gold and foreign exchange reserves amounted to USD 528.5 million, or 7.1%.
"The decrease in the level of international reserve assets in March was mainly due to the planned repayment by the Government of external and internal liabilities in foreign currency in the amount of about USD 310 mln, as well as a decrease in the cost of monetary gold," the regulator explained.
In 2020, Belarusian meat processors managed to increase the production of sausages and smoked meats due to the growth of domestic demand amid the coronavirus epidemic, as well as due to the favorable conjuncture of the Russian market.
2020 not only did not solve the problems of Belarus, but also added new ones. So, the expectations that next year it will be possible to get significant benefits due to lower energy prices, were not satisfied: the gas price remains at the level of 2020, and the oil price will even increase due to the tax maneuver in Russia. The question of the timing of the receipt of the second part of the Russian loan funds remains unresolved.
The US Congress approved the 2020 Bill of Belarusian Democracy, Human Rights and Sovereignty.
In January-September 2020, the GDP of Belarus amounted to BYN 106.6 billion, or in comparable prices 98.7% over the same period in 2019. In addition to the coronavirus epidemic and two currency crises, the main impact on the economic decline was made by the decrease in turnover in the petrochemistry and mechanical engineering.
Among other obvious factors, the protests in Belarus were the result of global changes in the economy. The old model, the tangible industrial one, is more and more moving aside, and it is being replaced by a new, information technology model generally known as postindustrial.