Belarus Economy Ministry expects 0.3-0.5% GDP growth in 1Q21
<p> MINSK, Feb 23, PrimePress. Belarus’ GDP is expected to grow in the first quarter of 2021 by 0.3-0.5%, Economy Minister of Belarus Alexander Chervyakov said on February 23, 2021. </p> <p> </p> <p> According to the minister, the plan for January-March 2021 was to reach the level of January-March 2020. “But we see that we can achieve a little increase,” Chervyakov said. </p> <p> </p> <p> He said that last year’s problems persist in 2021, therefore, the service sector showed a decrease in January. “Nevertheless, the economy grew [in January] by 1%. The key industries, primarily oil, potash fertilizers, and wood processing, contributed a lot, and so did the IT sector,” said Chervyakov. </p> <p> </p> <p> Belarus’ GDP grew by 1.3% year on year in January 2021 in many respects because of the low comparative base: in January 2020, the Belarusian oil refineries were left without Russian crude oil and significantly reduced output. </p> <p> </p> <p> The official forecast for Belarus’ GDP grow is 1.8% in 2021. GDP was down 0.9% in 2020. End </p> <p> </p>
2021-02-24
Primepress
Belarus Economy Ministry expects 0.3-0.5% GDP growth in 1Q21
MINSK, Feb 23, PrimePress. Belarus’ GDP is expected to grow in the first quarter of 2021 by 0.3-0.5%, Economy Minister of Belarus Alexander Chervyakov said on February 23, 2021.
According to the minister, the plan for January-March 2021 was to reach the level of January-March 2020. “But we see that we can achieve a little increase,” Chervyakov said.
He said that last year’s problems persist in 2021, therefore, the service sector showed a decrease in January. “Nevertheless, the economy grew [in January] by 1%. The key industries, primarily oil, potash fertilizers, and wood processing, contributed a lot, and so did the IT sector,” said Chervyakov.
Belarus’ GDP grew by 1.3% year on year in January 2021 in many respects because of the low comparative base: in January 2020, the Belarusian oil refineries were left without Russian crude oil and significantly reduced output.
The official forecast for Belarus’ GDP grow is 1.8% in 2021. GDP was down 0.9% in 2020. End