Updated at 18:20,19-09-2019

EBRD lowers Belarus growth forecast for 2019

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EBRD lowers Belarus growth forecast for 2019
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The European Bank for Reconstruction and Development (EBRD) has lowered Belarus' economic growth forecast for 2019 from 3% to 2.5%. EBRD experts note in their latest report that the prospects for growth continue to depend on the scale of structural reforms and on the ability to expand the role of the private sector in the country's economy.

Back in May this year, EBRD forecasted Belarus economy growth at 3% and the same number in 2019.

Experts note that economic growth in Belarus accelerated up to 2.5% in the first quarter of this year but later slowed down yet remaining on a relatively high level against the previous year.

The government of Belarus forecasted that GDP growth would amount to 3.7% in 2018 against 2.4% in 2017. Their forecsts is that growth will is expected at slightly less than 4% in the next years.

The International Monetary Fund had a slightly different forecast for Belarus GDP: a 4% growth in 2018 and 3.1% in 2019.

The World Bank's estimates are that Belarus GDP growth will slow down to 2-2.5%, because the government in Belarus will make new steps ahead of the upcoming elections to have produced a negative impact on the country's economy, reports TUT.by.