Snopkov: growth of profitability and net profit was noted in the industry

August 8, MINSK . The financial results of the industry are characterized by an increase in sales profitability and net profit. This was stated by First Deputy Prime Minister Nikolai Snopkov at a meeting of the Council of Ministers, which considers the results of the economy for the first half of the year, BelTA has learned.

According to Nikolai Snopkov, the financial results of the industry are characterized by an increase in the profitability of sales and net profit, while the reduction in net loss for unprofitable enterprises amounted to 25%. "For industrial enterprises with a state share of 50% or more, the profitability of sales reached 9.3% in five months. This corresponds to the target for the first half of 2023 and is carried out by all ministries, concerns, with the exception of the Ministry of Agriculture and Food. it is in the positive zone, but the target is 6 % is not fulfilled," he said.

Monitoring of the financial performance of the largest state-owned enterprises also shows an increase in operational efficiency. "In general, for these enterprises for 5 months it amounted to 12.9% against 12.2% last year," the First Deputy Prime Minister said.

Nikolai Snopkov

As for the production of agricultural products, in the first half of the year this indicator increased by 2.7% compared to the same period in 2022. "This happened due to an increase in the production of cattle , pigs, poultry and MILK. The growth in livestock production was facilitated by a higher supply of feed, the availability of which in agricultural organizations as of May 1 per one conventional HEAD was higher by 9% compared to the same period last year, - Nikolay Snopkov noted. - As of July 1, agricultural organizations harvested forage from grasses by almost 19% less than on the same date in 2022. This is due to difficult weather conditions and poses a certain threat to the provision of feed."

He drew attention to the fact that last year the main increase in agricultural production was provided by a significant increase in the yield of major crops. “Therefore, maintaining positive dynamics in the industry this year will largely depend on the results of crop production and high-quality harvesting,” the First Deputy Prime Minister emphasized.

Nikolai Snopkov also stated: “First of all, we planned to achieve economic growth this year through investments in fixed assets (that is, new enterprises and modernization of existing ones), as well as investments in infrastructure. Therefore, the fulfillment of the planned investment parameters is a key factor in ensuring the pace economic growth and achievement of planned parameters".

Photo by Maxim Gucek