Balance of payments went in the red considerably

The Q1 2015 has been finished by Belarus with an adverse balance of $1.09 billion.

At quarter-end of Q1 2015 there was a credit balance of payments of Belarus’ current transactions, it reached $1090.8 mln (-8.6% to the GDP) as compared to the credit balance of $1823.3 mln in Q1 2014, AFN writes.

The favourable balance of foreign trade in goods and services in January – March 2015 was $556.0 mln, as compared to $457.1 mln in January-March 2014, the National Bank of Belarus informed.

The balance of primary was adverse, $1727.3 mln (as compared to $1547.7 mln in January-March 2014). The items of secondary income formed favourable balance of $80.5 mln (as compared to the adverse balance of $732.7 mln in January-March 2014).

In financial accounts, net borrowing was $423.7 mln (in January – March 2014 net borrowing was $1179.4 mln).