Belarus’ economy ministry forecasts 2.6% GDP growth in H1 2021
<p> MINSK, May 19 - PrimePress. The Economy Ministry expects Belarus’ GDP to grow by 2.6% in H1 2021, First Deputy Economy Minister Yuri Chebotar said a government conference on May 18. </p> <p> </p> <p> “According to our estimates, the production sector will continue driving economic growth in H1 2021. As for GDP projections, we expect a growth rate of 102.6% in the first half of the year,” said Chebotar. </p> <p> </p> <p> In his words, the first quarter of the year was characterized by emerging positive dynamics of restoration of agriculture and various kinds of consumer services – retail trade, transport, hospitality industry, public catering, healthcare, education, leisure and entertainment. </p> <p> </p> <p> “The branches are gaining pace. We expect them to recover up to last year's level as a result of H1 2021. On the whole, we expect the sphere of services to get out of the negative zone,” said Chebotar. </p> <p> </p> <p> As previously reported, according to the National Statistics Committee of Belarus (Belstat), Belarus’ GDP grew by 2.5% year on year in January-April 2021 to Br50.6 billion ($20.11 billion at the rate of National Bank of Belarus). </p> <p> </p> <p> The government of Belarus approved a medium-term financial program of the national budget for 2021-2023 under Resolution #227 of April 20, 2012, according to which the Belarusian GDP growth is planned at the level of 1.8% in 2021, 2.9% in 2022 and 3.8% in 2023. </p> <p> </p> <p> In April 2021 the International Monetary Fund (IMF) downgraded its forecast for Belarus’ GDP dynamics in 2021 by 2.6 percentage points from its October 2020 forecast (+2.2%) to minus 0.4%. The IMF posted these figures in the latest World Economic Outlook released on April 6. The IMF forecast for 2022 promises Belarus a recovery growth of 0.8% of GDP. At the same time, IMF experts improved their forecast of the global economy growth in 2021 by 0.5 p. p. from their January 2021 forecast to 6%, and in 2022 by 0.2 p. p. to 4.4%. </p> <p> </p> <p> In late March 2021 the World Bank (WB) improved its forecast for Belarus’ GDP dynamics in 2021 by 0.5pp to minus 2.2% year on year, the outlook for 2022 has been upgraded by 1pp to 1.9%. End </p>
2021-05-20
Primepress
Belarus’ economy ministry forecasts 2.6% GDP growth in H1 2021
MINSK, May 19 - PrimePress. The Economy Ministry expects Belarus’ GDP to grow by 2.6% in H1 2021, First Deputy Economy Minister Yuri Chebotar said a government conference on May 18.
“According to our estimates, the production sector will continue driving economic growth in H1 2021. As for GDP projections, we expect a growth rate of 102.6% in the first half of the year,” said Chebotar.
In his words, the first quarter of the year was characterized by emerging positive dynamics of restoration of agriculture and various kinds of consumer services – retail trade, transport, hospitality industry, public catering, healthcare, education, leisure and entertainment.
“The branches are gaining pace. We expect them to recover up to last year's level as a result of H1 2021. On the whole, we expect the sphere of services to get out of the negative zone,” said Chebotar.
As previously reported, according to the National Statistics Committee of Belarus (Belstat), Belarus’ GDP grew by 2.5% year on year in January-April 2021 to Br50.6 billion ($20.11 billion at the rate of National Bank of Belarus).
The government of Belarus approved a medium-term financial program of the national budget for 2021-2023 under Resolution #227 of April 20, 2012, according to which the Belarusian GDP growth is planned at the level of 1.8% in 2021, 2.9% in 2022 and 3.8% in 2023.
In April 2021 the International Monetary Fund (IMF) downgraded its forecast for Belarus’ GDP dynamics in 2021 by 2.6 percentage points from its October 2020 forecast (+2.2%) to minus 0.4%. The IMF posted these figures in the latest World Economic Outlook released on April 6. The IMF forecast for 2022 promises Belarus a recovery growth of 0.8% of GDP. At the same time, IMF experts improved their forecast of the global economy growth in 2021 by 0.5 p. p. from their January 2021 forecast to 6%, and in 2022 by 0.2 p. p. to 4.4%.
In late March 2021 the World Bank (WB) improved its forecast for Belarus’ GDP dynamics in 2021 by 0.5pp to minus 2.2% year on year, the outlook for 2022 has been upgraded by 1pp to 1.9%. End