GDP in Dollars Dropped to Its Lowest Level Since 2007

Decline in dollar GDP will finally make potential investors turn their back upon Lukashenka's economy.

"According to the average rate, in 2016 GDP in dollar value equaled to $47.2 billion, in 2015 - $55.3 billion taking into account the latest official updated assessment of the indicator. Thus, GDP declined by $8.1 billion, or 14.7%", financial analyst of businessforecast.by research group Aliaksandr Mukha stated when commenting on official statistics.

"The decline in GDP in dollar value is caused by the decline of average weighted exchange rate of the Belarusian ruble by 23% compared to 2015," Mukha says.

In 2007 GDP amounted to $45.2 billion, BelaPAN informs.

The expert notes that the dollar value of GDP is used not only in the international comparative statistics, but also when calculation of a number of indicators of the economic security (in particular, the ratio of public debt to GDP).

"Obviously, amid a noticeable reduction of the dollar value of GDP deterioration of those parameters that are taken into consideration by foreign investors, holders of the Belarusian Eurobonds, international rating agencies can be expected. GDP decline in dollar value is the negative signal to a number of external contractors in our country," Mukha stated.

Economic policy in the country, the analyst says, should aim at stabilization of the dollar value of GDP and provide for a gradual growth of this indicator.