Belarus’ GDP dropped 2.8% in January-October 2016
The Belarusian GDP decreased by 2.8% in January-October. The GDP decreased by 2.9% in 9 months, 3% in 8, 2.7% in 7, 2.5% in 6, 2.8% in 5, 3% in 4, 3.6% in 3, 4% in 2 months and 4.3% in January, naviny.by reports.
According to the last forecast of the Ministry of Economy, the GDP may increase by 2% by the end of the year. Foreign experts expected a different result. For example, the European Bank for Reconstruction and Development expected Belarus’ gross domestic product to go down by 3% in 2016.
The decrease can be explained by the dependence of Belarusian trade on the Russian market, drawbacks in the structure of the economy, high refinancing risks and imbalance.
According to the last forecast of the Ministry of Economy, the GDP may increase by 2% by the end of the year. Foreign experts expected a different result. For example, the European Bank for Reconstruction and Development expected Belarus’ gross domestic product to go down by 3% in 2016.
The decrease can be explained by the dependence of Belarusian trade on the Russian market, drawbacks in the structure of the economy, high refinancing risks and imbalance.