Belarus reports 1.1% y/y GDP growth in January-March

Belarus reports 1.1% y/y GDP growth in January-March
Belarus economic outlook for 2019 is deteriorating as growth slows to 1.1% in 1Q19 / bne IntelliNews
By bne IntelliNews April 17, 2019

The Belarusian economy grew by 1.1% year-on-year in January-March following a 0.8% y/y growth in January-February, according to national statistics agency Belstat.

In April, the International Monetary Fund (IMF) has revised downward its forecasts for the economic growth in Belarus in 2019 from 3.1% year-on-year to 1.8% y/y.

The move followed the World Bank's revision of the nation's GDP growth from 2.7% y/y to 2.2% y/y in 2019, from 2.5% y/y to 2.4% y/y in 2020 as well as from 2.5% y/y to 2.1% y/y in 2021. The World Bank said that the country's economic growth will depend on the results of Minsk's talks with Russia on compensation for the latter’s so-called tax manoeuvre in the oil sector.

Belarus' GDP grew by 3% y/y in 2018 after a 2.4% y/y expansion in 2017 after two years of recession. It contracted 3.9% y/y in 2015 following 1.6% y/y of growth in 2014.

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