Updated at 11:30,08-12-2016

EBRD reduced the GDP growth forecast in Belarus to 1.5% in 2012

The European Bank for Reconstruction and Development downgraded growth forecast for economic growth in Belarus in 2011 - 2012.

According to the October forecast of the EBRD, the current year Belarus' GDP growth will amount to 4.5%, while in July it was estimated to be 5.0%. In 2012 growth forecast lowered even further - to 1.5% from 3.0%.

The budget deficit of Belarus for the current year is predicted at 3.3% of GDP, the negative balance of payments - 13.4% of GDP.