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GDP Drop Accelerated in July

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GDP Drop Accelerated in July

In January-July 2016 decrease of the GDP of Belarus was 2.7% compared to the same period last year.

The indicator for the first six months was better and equaled to minus 2.5%. At the same time the decline rate had the tendency to reduce during all six months. Thus, in July, there was a deterioration of the GDP index, belrynok.by informs.

The government expected that in the second half of the year the economy would take a positive growth trend scheduled the GDP growth at 0.3%. However, the international financial institutions give more pessimistic assessment. The World Bank and the EBRD expect decline at the level of 3%, the IMF - minus 2.7%. The Eurasian Development Bank has recently downgraded its forecast to minus 1.9%.

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