Belarus’ GDP grows 0.6-0.8% in Q1 2021- EconMin
<p> MINSK, Apr 14 – PrimePress. The Economy Ministry of Belarus says the country’s GDP, according to the preliminary estimates, went up by 0.6-0.8% in Q1 2021. </p> <p> </p> <p> “There is no official data on Q1 yet, but we already see economic growth. According to our estimates, the GDP inched up by around 0.6-0.8%. This growth was coupled with quantitative shifts. We also reported a surplus in foreign trade in both goods and services. In January-February, the surplus exceeded $750 million, with $88 million in merchandise trade and almost $670 million in services trade,” BelTA reports citing Belarusian Deputy Economy Minister Dmitry Yaroshevich as saying. </p> <p> </p> <p> The data on the manufacturing industry has already been processed. The growth rate was over 9%. Positive dynamics was reported in tool engineering, mechanical engineering, and pharmaceutics. </p> <p> </p> <p> As previously reported on Apr 6, 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%. The WB outlook refers to the following factors as the key drivers of Belarus’ sustained recession in 2021 and weak recovery thereafter: ongoing political tensions, continued headwinds from the Russian “tax manoeuvre”, and lack of structural reforms. </p> <p> </p> <p> In the meantime, Belarus’ authorities expect 1.8% GDP growth in 2021. End </p>
2021-04-15
Primepress
Belarus’ GDP grows 0.6-0.8% in Q1 2021- EconMin
MINSK, Apr 14 – PrimePress. The Economy Ministry of Belarus says the country’s GDP, according to the preliminary estimates, went up by 0.6-0.8% in Q1 2021.
“There is no official data on Q1 yet, but we already see economic growth. According to our estimates, the GDP inched up by around 0.6-0.8%. This growth was coupled with quantitative shifts. We also reported a surplus in foreign trade in both goods and services. In January-February, the surplus exceeded $750 million, with $88 million in merchandise trade and almost $670 million in services trade,” BelTA reports citing Belarusian Deputy Economy Minister Dmitry Yaroshevich as saying.
The data on the manufacturing industry has already been processed. The growth rate was over 9%. Positive dynamics was reported in tool engineering, mechanical engineering, and pharmaceutics.
As previously reported on Apr 6, 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%. The WB outlook refers to the following factors as the key drivers of Belarus’ sustained recession in 2021 and weak recovery thereafter: ongoing political tensions, continued headwinds from the Russian “tax manoeuvre”, and lack of structural reforms.
In the meantime, Belarus’ authorities expect 1.8% GDP growth in 2021. End