EDB notes slowdown in Belarus’ GDP growth to 2.4% in Jan-Oct
<p> MINSK, Nov 22 - PrimePress. The Eurasian Development Bank (EDB) reports a year-on-year slowdown in Belarus’ gross domestic product (GDP) growth dynamics in January-October 2021 to 2.4% against 2.7% in January-September 2021, according to the EDB weekly economic news release published on November 22. </p> <p> </p> <p> “The Belarusian economy expanded by 2.4% year on year (2.7% yoy in Jan-Sep 2021) in January-October 2021. The economy continued to be supported by the information and communication sector. Dynamics of manufacturing and other service sector weakened in October. This can be attributed to a gradual weakening of the momentum for exports after the peak of external demand recovery, as well as the impact of another pandemic wave in Belarus,” the survey says. </p> <p> </p> <p> At the same time, EDB analysts estimate that Belarus’ GDP in October 2021 “was close to the pre-pandemic level (in Q3 as a whole, it exceeded it by 0.5-1%)”. </p> <p> </p> <p> As previously reported, in its regular Macroeconomic Review published on 20 September, the Eurasian Development Bank upgraded its forecast for the growth of Belarus’ GDP in 2021 by 1.2 percentage points year on year up to 2.5%. The EDB says this is due to the “stronger than expected performance of the services sector in June-July, amid a likely adaptation of the population to the pandemic environment, as well as an increase in government funding to the economy not attributable to budget expenditures”. </p> <p> </p> <p> Belarus’ gross domestic product (GDP) grew by 2.4% year on year in January-October 2021 to Br143.259 billion ($58.049bn at the rate of the National Bank of Belarus), the National Statistics Committee of Belarus (Belstat) said in a report. Industrial output was up 7.1% year on year in Jan-Oct 2021 to Br125.154 billion ($50.713bn). Farm output reduced by 4.7% year on year in Jan-Oct 2021 to Br22.417 billion ($9.083bn). </p> <p> </p> <p> As previously reported, 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> <p> </p> <p> </p>
2021-11-23
Primepress
EDB notes slowdown in Belarus’ GDP growth to 2.4% in Jan-Oct
MINSK, Nov 22 - PrimePress. The Eurasian Development Bank (EDB) reports a year-on-year slowdown in Belarus’ gross domestic product (GDP) growth dynamics in January-October 2021 to 2.4% against 2.7% in January-September 2021, according to the EDB weekly economic news release published on November 22.
“The Belarusian economy expanded by 2.4% year on year (2.7% yoy in Jan-Sep 2021) in January-October 2021. The economy continued to be supported by the information and communication sector. Dynamics of manufacturing and other service sector weakened in October. This can be attributed to a gradual weakening of the momentum for exports after the peak of external demand recovery, as well as the impact of another pandemic wave in Belarus,” the survey says.
At the same time, EDB analysts estimate that Belarus’ GDP in October 2021 “was close to the pre-pandemic level (in Q3 as a whole, it exceeded it by 0.5-1%)”.
As previously reported, in its regular Macroeconomic Review published on 20 September, the Eurasian Development Bank upgraded its forecast for the growth of Belarus’ GDP in 2021 by 1.2 percentage points year on year up to 2.5%. The EDB says this is due to the “stronger than expected performance of the services sector in June-July, amid a likely adaptation of the population to the pandemic environment, as well as an increase in government funding to the economy not attributable to budget expenditures”.
Belarus’ gross domestic product (GDP) grew by 2.4% year on year in January-October 2021 to Br143.259 billion ($58.049bn at the rate of the National Bank of Belarus), the National Statistics Committee of Belarus (Belstat) said in a report. Industrial output was up 7.1% year on year in Jan-Oct 2021 to Br125.154 billion ($50.713bn). Farm output reduced by 4.7% year on year in Jan-Oct 2021 to Br22.417 billion ($9.083bn).
As previously reported, 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