Belarus Seeks Minimizing Economic Dependence, Boosting Oil Export By 2025 - Lukashenko

Belarus Seeks Minimizing Economic Dependence, Boosting Oil Export by 2025 - Lukashenko

Belarus is implementing a strategy for minimizing economic dependence on foreign countries by 2025 and also seeks boosting its oil and gas export significantly, President Alexander Lukashenko said on Tuesday

MINSK (Pakistan Point News / Sputnik - 04th August, 2020) Belarus is implementing a strategy for minimizing economic dependence on foreign countries by 2025 and also seeks boosting its oil and gas export significantly, President Alexander Lukashenko said on Tuesday.

"High dependence on one or two countries makes us vulnerable, to say the least. Due to trade wars, unfair prices and expensive loans, the country has lost $9.5 billion in economic growth over the past five years, which includes retirement benefits, study allowances, state-paid workers' salaries, support for families. We have drawn out a lesson and are already implementing a strategy to minimize the influence of these factors by 2025," Lukashenko said in an address to the Belarusian citizens and parliament.

The 2025 strategy envisions the creature of "a new infrastructure for oil and gas deliveries," loan portfolio and trade flow diversification" and "aggressive exploration of new export markets," the Belarusian leader added.