Govt expects Belarus’ GDP to grow 21.5% in 2021-2025 - forecast
<p> MINSK, Dec 3 - PrimePress. The Government of Belarus expects the country’s gross domestic product (GDP) to expand by a total of 21.5% in 2021-2025. These figures are part of the draft forecast for Belarus’ socio-economic development in 2021-2025. The document outlines the key targets for Belarus’ economic performance for the next five-year period. </p> <p> </p> <p> The main sources of such GDP dynamics, according to the draft forecast, will be the growth of investment in fixed assets in 2021-2025 by 22.4% to a total of Br210 billion ($81.14 billion at the exchange rate of the National Bank of Belarus) and an increase in exports of goods and services - up to $50 billion in 2025, Interfax said in a report. </p> <p> </p> <p> In particular, according to the government’s estimates, in 2021 investments are expected to grow by 2%, in 2022 - 3.9%, in 2023 - 4.2%, in 2024 - 5%, in 2025 - 5.6%. Exports are expected to reach $37.8 billion in 2021, $40 billion in 2022, $42.8 billion in 2023 and $46.1 billion in 2024. </p> <p> </p> <p> In a speech to present the government's 2025 activity programme to members of the lower chamber of Belarus’ parliament on December 2, Belarusian premier Roman Golovchenko confirmed the government’s plans to increase the annual volume of exports of goods and services by 2025 by 70% to the level of 2019 to $50 billion. </p> <p> </p> <p> Accordingly, according to the project, in 2021 GDP growth in real terms is projected at 1.8% to Br157.3 billion ($60.778 billion); Br1.5881 billion), in 2022 - by 2.9% to Br170.7 billion ($65.955 billion), in 2023 - by 3.8% to Br186.1 billion ($71.906 billion), in 2024 - by 5.4% to Br206 billion ($79.595 billion), in 2025 - by 6% to Br229.2 billion ($88.559 billion). </p> <p> </p> <p> As previously reported, in accordance with the 2016-2020 programme of Belarus’s socio-economic development, the country’s GDP was projected to expand by 12-15% during the five-year period. In reality, however, it is expected to be about 3.5%. </p> <p> </p> <p> In January-September 2020, Belarus’ GDP decreased by 1.3% year on year to Br106.584 billion ($41.182 billion). As previously reported, the Ministry of Economy expects a 0.6% year-on-year decline in Belarus’ GDP in 2020, the initial official forecast provided for a 2.8% increment. </p> <p> </p> <p> Belarus’ GDP grew by 1.2% year on year in 2019 to Br131.952 billion ($50.984 billion), with the official forecast standing at plus 4%. End </p>
2020-12-04
Primepress
MINSK, Dec 3 - PrimePress. The Government of Belarus expects the country’s gross domestic product (GDP) to expand by a total of 21.5% in 2021-2025. These figures are part of the draft forecast for Belarus’ socio-economic development in 2021-2025. The document outlines the key targets for Belarus’ economic performance for the next five-year period.
The main sources of such GDP dynamics, according to the draft forecast, will be the growth of investment in fixed assets in 2021-2025 by 22.4% to a total of Br210 billion ($81.14 billion at the exchange rate of the National Bank of Belarus) and an increase in exports of goods and services - up to $50 billion in 2025, Interfax said in a report.
In particular, according to the government’s estimates, in 2021 investments are expected to grow by 2%, in 2022 - 3.9%, in 2023 - 4.2%, in 2024 - 5%, in 2025 - 5.6%. Exports are expected to reach $37.8 billion in 2021, $40 billion in 2022, $42.8 billion in 2023 and $46.1 billion in 2024.
In a speech to present the government's 2025 activity programme to members of the lower chamber of Belarus’ parliament on December 2, Belarusian premier Roman Golovchenko confirmed the government’s plans to increase the annual volume of exports of goods and services by 2025 by 70% to the level of 2019 to $50 billion.
Accordingly, according to the project, in 2021 GDP growth in real terms is projected at 1.8% to Br157.3 billion ($60.778 billion); Br1.5881 billion), in 2022 - by 2.9% to Br170.7 billion ($65.955 billion), in 2023 - by 3.8% to Br186.1 billion ($71.906 billion), in 2024 - by 5.4% to Br206 billion ($79.595 billion), in 2025 - by 6% to Br229.2 billion ($88.559 billion).
As previously reported, in accordance with the 2016-2020 programme of Belarus’s socio-economic development, the country’s GDP was projected to expand by 12-15% during the five-year period. In reality, however, it is expected to be about 3.5%.
In January-September 2020, Belarus’ GDP decreased by 1.3% year on year to Br106.584 billion ($41.182 billion). As previously reported, the Ministry of Economy expects a 0.6% year-on-year decline in Belarus’ GDP in 2020, the initial official forecast provided for a 2.8% increment.
Belarus’ GDP grew by 1.2% year on year in 2019 to Br131.952 billion ($50.984 billion), with the official forecast standing at plus 4%. End