IT sector continues to drag down Belarus' GDP

The IT sector continues to drag down the GDP of Belarus. Its negative contribution in 2023 amounted to minus 0.9% (however, this year a decrease in the negative impact is recorded), writes @devby.

IT companies received 1.6 billion roubles of profit last year, which is 4% less than in 2022. The country counted 24 unprofitable companies, which made minus 41 million rubles.

While the volume of foreign investments in 2022 decreased by almost 30%, in 2023 the decrease was almost 40% or 160 million dollars.

The total volume of foreign investment in IT last year amounted to $233.6 million. Investments fell almost to the level of 2018.