EBD sees Belarus’ GDP growth at 3.3% in H1, 3.8% in June, over 5% in May
<p> MINSK, Jul 19 - PrimePress. Belarus’ gross domestic product (GDP) expanded by 3.3% in January-June 2021, the growth dynamics slowed down in June 2021 to 3.8% year-on-year from more than 5% in May 2021, which may signal the end of the economic recovery process. This is stated in the EDB’s weekly economic news report published on 19 July. </p> <p> </p> <p> “Belarus’ GDP growth slowed down to about 3.8% year on year in June from more than 5% in May (EDB’s own estimate) to 3.3% year on year in H1. At the same time, GDP change for the month, with seasonal fluctuations eliminated, is estimated by the EDB to be around 0% in May and June. This may indicate that the recovery of economic activity is coming to an end. In this regard, the EDB maintains expectations of slower growth of the Belarusian economy in the second half of the year,” the EDB said in its review. </p> <p> </p> <p> Head of Economic Analysis at the EDB Alexey Kuznetsov said on July 7 that Belarus’ gross domestic product (GDP) may decrease by 1-1.5 percentage points per year in 2021-2022 due to the sanctions imposed by the European Union (EU) and the United States. Kuznetsov said the uncertainty of quantitative estimates of the imposed sanctions was high. They will most likely primarily affect the export potential and investment climate. He said that it is still possible that the country’s GDP may grow by 2-2.5% in 2021 in the event of positive developments. </p> <p> </p> <p> Currently, the EDB forecasts 1.3% growth of Belarus’ GDP in 2021 (a 0.1% decrease was expected in the previous forecast). The baseline scenario assumes that the current rate of GDP will be maintained in 2022. </p> <p> </p> <p> According to the National Statistical Committee of Belarus (Belstat), Belarus’ GDP grew by 3.3% year on year in January-June 2021 to Br78.928 billion ($31.15 billion at the exchange rate of the 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. End </p>
2021-07-20
Primepress
EBD sees Belarus’ GDP growth at 3.3% in H1, 3.8% in June, over 5% in May
MINSK, Jul 19 - PrimePress. Belarus’ gross domestic product (GDP) expanded by 3.3% in January-June 2021, the growth dynamics slowed down in June 2021 to 3.8% year-on-year from more than 5% in May 2021, which may signal the end of the economic recovery process. This is stated in the EDB’s weekly economic news report published on 19 July.
“Belarus’ GDP growth slowed down to about 3.8% year on year in June from more than 5% in May (EDB’s own estimate) to 3.3% year on year in H1. At the same time, GDP change for the month, with seasonal fluctuations eliminated, is estimated by the EDB to be around 0% in May and June. This may indicate that the recovery of economic activity is coming to an end. In this regard, the EDB maintains expectations of slower growth of the Belarusian economy in the second half of the year,” the EDB said in its review.
Head of Economic Analysis at the EDB Alexey Kuznetsov said on July 7 that Belarus’ gross domestic product (GDP) may decrease by 1-1.5 percentage points per year in 2021-2022 due to the sanctions imposed by the European Union (EU) and the United States. Kuznetsov said the uncertainty of quantitative estimates of the imposed sanctions was high. They will most likely primarily affect the export potential and investment climate. He said that it is still possible that the country’s GDP may grow by 2-2.5% in 2021 in the event of positive developments.
Currently, the EDB forecasts 1.3% growth of Belarus’ GDP in 2021 (a 0.1% decrease was expected in the previous forecast). The baseline scenario assumes that the current rate of GDP will be maintained in 2022.
According to the National Statistical Committee of Belarus (Belstat), Belarus’ GDP grew by 3.3% year on year in January-June 2021 to Br78.928 billion ($31.15 billion at the exchange rate of the 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. End