Belarus’ GDP to be down by 1.6% in 2020, by 2.7% in 2021 – World Bank
<p> MINSK, Jan 6 - PrimePress. The World Bank (WB) expects gross domestic product (GDP) of Belarus to decrease by 1.6% year on year in 2020 and by 2.7% in 2021, and then recover by 0.9% in 2022, reads the January Global Economic Prospects review published on January 6, 2021. </p> <p> </p> <p> In June 2020, the World Bank forecasted a 4% GDP decline in 2020 and 1% growth in 2021. </p> <p> </p> <p> According to the WB, the continuing coronavirus pandemic and the resulting global cross-border restrictions have a negative impact on the functioning of financial and commodity markets, world trade, global supply chains, tourism and transport. </p> <p> </p> <p> According to the WB, among other things, Belarus faces risks associated with the internal political crisis and the likely expansion of sanctions against the country. </p> <p> </p> <p> The World Bank forecasts 4.0% global GDP growth in 2021 (minus 0.2 percentage points against the June forecast): China – by 7.9% (+1 p.p.); Eurozone – by 3.6% (minus 0.9 p.p.); the U.S. – by 3.3% (minus 0.7 p.p.); Poland - by 3.5% (+0.7 p.p.); Russia – by 2.6% (minus 0.1 p.p.); Japan - by 2.5%. </p> <p> </p> <p> Alexander Lukashenko said on January 5 that Belarus’ GDP was likely to contract by 0.5% in 2020. The Economy Ministry reported earlier that GDP would be down 0.8% in 2020 against 2019, the official growth forecast being 2.8%. Belarusian authorities forecast 1.8% GDP growth in 2021. End </p>
2021-01-07
Primepress
MINSK, Jan 6 - PrimePress. The World Bank (WB) expects gross domestic product (GDP) of Belarus to decrease by 1.6% year on year in 2020 and by 2.7% in 2021, and then recover by 0.9% in 2022, reads the January Global Economic Prospects review published on January 6, 2021.
In June 2020, the World Bank forecasted a 4% GDP decline in 2020 and 1% growth in 2021.
According to the WB, the continuing coronavirus pandemic and the resulting global cross-border restrictions have a negative impact on the functioning of financial and commodity markets, world trade, global supply chains, tourism and transport.
According to the WB, among other things, Belarus faces risks associated with the internal political crisis and the likely expansion of sanctions against the country.
The World Bank forecasts 4.0% global GDP growth in 2021 (minus 0.2 percentage points against the June forecast): China – by 7.9% (+1 p.p.); Eurozone – by 3.6% (minus 0.9 p.p.); the U.S. – by 3.3% (minus 0.7 p.p.); Poland - by 3.5% (+0.7 p.p.); Russia – by 2.6% (minus 0.1 p.p.); Japan - by 2.5%.
Alexander Lukashenko said on January 5 that Belarus’ GDP was likely to contract by 0.5% in 2020. The Economy Ministry reported earlier that GDP would be down 0.8% in 2020 against 2019, the official growth forecast being 2.8%. Belarusian authorities forecast 1.8% GDP growth in 2021. End