Belarus economic growth accelerates to 1.7% y/y in January-September, PM says

Belarus economic growth accelerates to 1.7% y/y in January-September, PM says
Belarus GDP better than expected, up 1.7% year-on-year in January-September
By bne IntelliNews October 18, 2017

The GDP of Belarus increased by 1.7% year-on-year in January-September following a 1.6 y/y growth in January-August, the country' Prime Minister Andrei Kobyakov told a government meeting on October 17.

"The figure matches the annual target. The overall situation in the economy is stable," BELTA news agency quoted the premier as saying. "Nearly all the key parameters that measure the effectiveness of performance of the government and the central bank are fulfilled."

The post-Soviet nation is putting in a better-than-expected economic performance thanks to the ongoing recovery in neighbouring Russia, the country's main trade partner. Belarus' GDP contracted 3.9% y/y in 2015 after 1.6% y/y growth in 2014.

The Belarusian government is looking to grow GDP by 1.7% y/y in 2017. At the same time, the International Monetary Fund (IMF) revised recently its forecast for Belarus' GDP this year upwards to a 0.7% year-on-year growth vs the earlier expectation of a contraction of 0.8% y/y (April's forecast of the Fund).

 

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