IMF Downgrades Belarusian Economic Fall Forecast In 2016

The International Monetary Fund (IMF) has revised their forecast for the situation in the Belarusian economy for the worse.

It is said in its April World Economic Outlook Update.

Analysts of the fund believe that in 2016 the GDP of Belarus is to drop by 2.7%. In October 2015 their estimate was at the level of 2.2%.

In 2017 the economy growth in Belarus is expected at 0.4%, Belorusskiy Partizan writes.

The IMF has also downgraded its inflation evaluation this year by 2.2% to 14.5% as compared to 12.3% predicted a year earlier. The growth of consumer prices in 2017 had been predicted by the IMF experts at the level of 11.3%.

In its turn, the current account deficit in 2016 is estimated at the level of 3.5% of the GDP, in 2017 – 3.1% of the GDP.

Earlier we informed that the IMF cut the global economy growth for 2016 from 3.4% to 3.2%. The growth of the economy in the Eurozone in 2016 is to make 2.4%, which is by 0.2% less than the earlier expected result.

At the same time, the forecast of the Russian economy growth for the year 2016 has been cut by 0.8%: experts expect that Russia’s GDP this year is to shrink by 1.8%. At the same time, the IMF believes that next year the Russian economy is to show growth by 0.8%.

The authorities of Belarus hope that the GDP growth in Belarus is to make 0.3%, and inflation is to exceed 12%.