Xinhua, Minsk :
The World Bank expects a slowdown in the growth of the Belarusian economy in 2019-2020, World Bank economist Marina Sidorenko said on Friday.
“The annual growth rate of the Belarusian economy will slow down to 2-2.5 percent,” Sidorenko said.
According to her, the recovery of economic growth for Belarus in 2017-2018 was based on cyclical factors.
“When the effect of the low base of 2017 will cease to operate, economic growth will begin to slow down,” the economist added. The expert called forthcoming payments on external debt as well as a possible reduction in external demand as main risks that threaten the stability of the Belarusian economy.
However, the World Bank has improved its forecast for Belarusian economy growth in 2018. Analysts stressed the need for further structural changes to increase external competitiveness in order to convert the current cyclical recovery into structural growth.
The Belarusian government expects 3.7 percent GDP growth in 2018 after rising by 2.4 percent in 2017. In 2019, the Belarusian authorities plan that the country’s GDP rate will exceed the world average and amount to more than 4 percent.
The World Bank expects a slowdown in the growth of the Belarusian economy in 2019-2020, World Bank economist Marina Sidorenko said on Friday.
“The annual growth rate of the Belarusian economy will slow down to 2-2.5 percent,” Sidorenko said.
According to her, the recovery of economic growth for Belarus in 2017-2018 was based on cyclical factors.
“When the effect of the low base of 2017 will cease to operate, economic growth will begin to slow down,” the economist added. The expert called forthcoming payments on external debt as well as a possible reduction in external demand as main risks that threaten the stability of the Belarusian economy.
However, the World Bank has improved its forecast for Belarusian economy growth in 2018. Analysts stressed the need for further structural changes to increase external competitiveness in order to convert the current cyclical recovery into structural growth.
The Belarusian government expects 3.7 percent GDP growth in 2018 after rising by 2.4 percent in 2017. In 2019, the Belarusian authorities plan that the country’s GDP rate will exceed the world average and amount to more than 4 percent.
