Updated at 11:50,16-10-2017

GDP to continue to fall after completion of harvesting campaign in Belarus

Belarus in focus

In January-August 2015, GDP shrank by 3.5%, while in January-July – by 4%. The dynamics has improved thanks to the harvesting campaign, which was delayed compared with 2014. Until the end of the year, further economic slowdown should be expected due to falling incomes and deterioration in the wholesale trade, transport and industrial production. The state will continue to provide financial support to key industrial enterprises in order to preserve the employment rates (MAZ, MTZ, BelAZ, and Atlant). Demand for Belarusian produces on foreign markets is unlikely to increase due to a large share of Russia in trade turnover and preservation of sanctions against her. GDP may somewhat improve through the production of innovative products and focus on the EU market, however, unfavourable investment climate does not encourage new businesses to emerge at a good pace.