Belarus’ govt counts on 2% GDP growth in H1 2021
<p> MINSK, May 4 - PrimePress. While meeting with President of Belarus Alexander Lukashenko on May 4, Premier Roman Golovchenko briefly spoke about the country's economic performance in Q1 2021. </p> <p> </p> <p> In his words, the Belarusian economy reached a steady growth trajectory. Gross domestic product grew slightly to make up almost 101%. “We are going ahead of the forecast and the trajectory is upward. We expect a 1.4% increase in January-April, and the growth of almost 2% in H1 2021,” the prime minister said. He added that industry became the main driver of growth among the sectors. </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>
2021-05-05
Primepress
Belarus’ govt counts on 2% GDP growth in H1 2021
MINSK, May 4 - PrimePress. While meeting with President of Belarus Alexander Lukashenko on May 4, Premier Roman Golovchenko briefly spoke about the country's economic performance in Q1 2021.
In his words, the Belarusian economy reached a steady growth trajectory. Gross domestic product grew slightly to make up almost 101%. “We are going ahead of the forecast and the trajectory is upward. We expect a 1.4% increase in January-April, and the growth of almost 2% in H1 2021,” the prime minister said. He added that industry became the main driver of growth among the sectors.
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