Belarus reports 4.5% y/y GDP growth in January-June

Belarus reports 4.5% y/y GDP growth in January-June
By bne IntelliNews July 18, 2018

Belarus' GDP grew by 4.5% year-on-year in January-June, following a 4.7% y/y growth in January-May, according to the national statistics agency Belstat.

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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