GDP up 2.2% — Belstat

In January-November, the gross domestic product of Belarus increased by by 2.2% compared to the same period in 2016 and amounted to 97.3 bln BYN, the National Statistics Committee reports.

Over the 11 months, the volume of industrial production increased by 6.3%. During this period, labor productivity increased by 3.4%. In January-November, the volume of agricultural production increased by 4.1%. Investments in fixed capital increased by 3.6%.

In 2018, the government plans GDP growth by 3.4%.

This year, the European Bank for Reconstruction and Development (EBRD) has improved the GDP growth forecast for Belarus in 2017 from – 0.5% in May to + 1.5% in November, and in 2018 the Belarusian economy, according to the EBRD forecast, will grow by 2%.

Analysts of the authoritative rating agency S&P believe that in 2017-2020 the Belarusian economy will grow by an average of 2%. According to experts, this will contribute to the normalization of bilateral relations between Belarus and Russia, as well as improved economic performance of Belarus’s main trading partners — Russia and the European Union.

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