Belarus revises upward GDP growth in January-March

Belarus revises upward GDP growth in January-March
Belarusian GDP growth for January-March was 5.2% year-on-year
By bne IntelliNews July 11, 2018

Belarusian national statistics agency Belstat has revised upward its GDP growth figure for January-March to 5.2% year-on-year from initially estimated 5.1 % y/y growth.

According to Belstat, the previously reported figure was only a preliminary estimate based on statistical examinations, expert opinions and indirect calculations.

The nation's 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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