Belarus’ govt intends to achieve 0% year-on-year GDP growth in 2020 – Golovchenko
<p> MINSK, Nov 2 - PrimePress. The government of Belarus intends to maintain the gross domestic product (GDP) growth rate at the level of 2019, Prime Minister of Belarus Roman Golovchenko told reporters after delivering an economic report to the head of state on November 2, 2020. </p> <p> </p> <p> “We need to find additional resources. Against the backdrop of the fall of the economies of our neighbors by 4-9%, it is, of course, difficult to keep the pace at 100%, but it is feasible under a favorable combination of circumstances. The government is determined to fulfill this task,” Golovchenko said. </p> <p> </p> <p> Speaking about the “favorable combination of circumstances”, he meant the absence of a complete lockdown in the countries that are Belarus’ main trading and economic partners. “We expect that the contraction of the economy will not be too big, because we strongly depend on foreign markets,” Golovchenko said. </p> <p> </p> <p> According to his estimates, the GDP growth rate over the past three quarters is comparable to the same period of 2019. “In fact, we see that the Belarusian economy has got out of a slight drawdown in the second quarter, and is now moving quite steadily towards the goal of 100% of GDP against 2019,” he said. </p> <p> </p> <p> According to the National Bank of Belarus, real GDP decreased in the third quarter of 2020 by 0.5% year on year against 3.3% in the second quarter. </p> <p> </p> <p> As previously reported, Belarus’ GDP decreased by 1.3% y/y in January-September 2020 to Br106.584 billion ($40.446 billion at the rate of the National Bank of Belarus). Industrial output was down 1.8% to Br83.092 billion ($31.531bn); farm output – up 4.9% to Br16.713 billion ($6.342bn). The Ministry of Economy expects GDP to decline by 0.6% in 2020. </p> <p> </p> <p> Belarus’ GDP grew by 1.2% year on year in 2019 to Br131.952 billion ($50.072 billion), the official growth forecast being 4%. Belarusian authorities predicted 2.8% GDP growth in 2020%. End (Br2.6352/$1) </p>
2020-11-03
Primepress
Belarus’ govt intends to achieve 0% year-on-year GDP growth in 2020 – Golovchenko
MINSK, Nov 2 - PrimePress. The government of Belarus intends to maintain the gross domestic product (GDP) growth rate at the level of 2019, Prime Minister of Belarus Roman Golovchenko told reporters after delivering an economic report to the head of state on November 2, 2020.
“We need to find additional resources. Against the backdrop of the fall of the economies of our neighbors by 4-9%, it is, of course, difficult to keep the pace at 100%, but it is feasible under a favorable combination of circumstances. The government is determined to fulfill this task,” Golovchenko said.
Speaking about the “favorable combination of circumstances”, he meant the absence of a complete lockdown in the countries that are Belarus’ main trading and economic partners. “We expect that the contraction of the economy will not be too big, because we strongly depend on foreign markets,” Golovchenko said.
According to his estimates, the GDP growth rate over the past three quarters is comparable to the same period of 2019. “In fact, we see that the Belarusian economy has got out of a slight drawdown in the second quarter, and is now moving quite steadily towards the goal of 100% of GDP against 2019,” he said.
According to the National Bank of Belarus, real GDP decreased in the third quarter of 2020 by 0.5% year on year against 3.3% in the second quarter.
As previously reported, Belarus’ GDP decreased by 1.3% y/y in January-September 2020 to Br106.584 billion ($40.446 billion at the rate of the National Bank of Belarus). Industrial output was down 1.8% to Br83.092 billion ($31.531bn); farm output – up 4.9% to Br16.713 billion ($6.342bn). The Ministry of Economy expects GDP to decline by 0.6% in 2020.
Belarus’ GDP grew by 1.2% year on year in 2019 to Br131.952 billion ($50.072 billion), the official growth forecast being 4%. Belarusian authorities predicted 2.8% GDP growth in 2020%. End (Br2.6352/$1)