Belarus’ economic activity to be constrained by uncertainty, shrinking revenues and private sector lending – EDB forecast
<p> MINSK, Feb 19 - PrimePress. Belarus’ economic activity in the short term will be constrained by high uncertainty, shrinking revenues and lending to the private sector, as well as the difficult epidemiological situation at home and abroad. The Eurasian Development Bank (EDB) said that in a forecast posted on the bank's official Telegram channel. </p> <p> </p> <p> They reminded that Belarus' GDP increased by 1.3% year on year in January 2021. "The growth was due to a low base in the oil refining and chemical industries: a year earlier oil imports from Russia declined and there were no contracts with China to supply potash fertilizers. Consumer and investment demand were depressed in January this year. Investments in the active part of the fixed capital stock fell by 12.1% compared to January 2021, retail turnover declined by 0.9%, and catering turnover by 17.7%," the report reads. </p> <p> </p> <p> As for the sectors that contributed to GDP growth, those were the information and communication sector, which expanded by 2.9% year on year, which is significantly lower than the rates of previous years. End </p> <p> </p>
2021-02-20
Primepress
Belarus’ economic activity to be constrained by uncertainty, shrinking revenues and private sector lending – EDB forecast
MINSK, Feb 19 - PrimePress. Belarus’ economic activity in the short term will be constrained by high uncertainty, shrinking revenues and lending to the private sector, as well as the difficult epidemiological situation at home and abroad. The Eurasian Development Bank (EDB) said that in a forecast posted on the bank's official Telegram channel.
They reminded that Belarus' GDP increased by 1.3% year on year in January 2021. "The growth was due to a low base in the oil refining and chemical industries: a year earlier oil imports from Russia declined and there were no contracts with China to supply potash fertilizers. Consumer and investment demand were depressed in January this year. Investments in the active part of the fixed capital stock fell by 12.1% compared to January 2021, retail turnover declined by 0.9%, and catering turnover by 17.7%," the report reads.
As for the sectors that contributed to GDP growth, those were the information and communication sector, which expanded by 2.9% year on year, which is significantly lower than the rates of previous years. End