Belarus' GDP grew by 2.4% year-on-year in 2017, the country's Prime Minister Andrei Kobyakov told a cabinet meeting of January 16, state news agency BELTA reported the same day.
Belarus' economy is performing better than expected in 2017 mainly thanks to the ongoing recovery in neighbouring Russia, the country's main trade partner. The nation's GDP grew last year after two years of recession: Belarus' GDP contracted 3.9% y/y in 2015 following 1.6% y/y growth in 2014.
The World Bank forecasts Belarus economic growth in 2018 at 2.1% year-on-year, the multinational lender said in its report Global Economic Prospects published on January 10. The multinational lender also forecasts the nation's 2019 and 2020 GDP growth at 2.4% y/y.
The International Monetary Fund (IMF) revised recently its forecast for Belarus' GDP this year upwards to 0.7% y/y growth versus the earlier expectation of a contraction of 0.8% y/y (in April's forecast of the fund).