Belarus GDP increases by 4.7% y/y in January-May

By bne IntelliNews June 19, 2018

Belarus' GDP grew by 4.7% y/y in January-May, following 4.8% y/y growth in January-April and a 5.1% y/y growth in January-March, the national statistics agency Belstat reported on June 15.

The economy is recovering mainly thanks to the ongoing recovery in neighbouring Russia, the country's main trade partner. Belarus' GDP grew by 2.4% y/y in 2017 after two years of recession. It contracted 3.9% y/y in 2015 following 1.6% y/y growth in 2014.

In April, the International Monetary Fund (IMF) revised upwards its GDP growth forecast for Belarus from 0.7% (October's forecast) y/y to 2.8% y/y.

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