CIS economies grow faster than global rate in 2023 - Belarusian PM

MINSK. May 24 (Interfax) - The economic growth rates of the Commonwealth of Independent States (CIS) countries surpassed the global average in 2023, Belarusian Prime Minister Roman Golovchenko told the CIS Council of Heads of Government in Ashgabat on Friday.

"I emphasize that the pace of our joint [economic] growth is above the global [level]," Golovchenko told the Council in a video excerpt of his speech published by his government's press service.

"In the tough environment of 2023, economic growth in the CIS economies was on average 3.8%, whereas in 2022 we were in the negative zone on average, at minus 0.5%. As for Belarus, its whole-year GDP growth was 3.9% in 2023," Golovchenko said.

The fact that all CIS members have kept pace so far this year is something to celebrate, he said.

"According to statistical data, in the first quarter our Commonwealth's GDP rose by 3.9%. Belarusian GDP rose by 4.1% in three months, [and] by 5.1% in four months," Golovchenko said.

In addition, the proportion of CIS payments in national currencies has been steadily high, exceeding 85%, he said. Capital investment is growing, he said, noting the economic activity of CIS members.

"It is important [to build] on this dynamic to implement new projects and make our integrated community even more competitive," Golovchenko said.