According to experts, in order to overcome the negative trends, the Belarusian authorities have to launch deep structural reforms to improve the performance of enterprises.
The International Monetary Fund forecasts that Belarus’ GDP in 2015 will decrease by 2%. This was announced by the head of the IMF mission in Belarus David Hoffman. “According to the fund team evaluation, it is very likely that there will be a decline,” said Hoffman, answering the question from BelaPAN.
He said that next year the Fund expects some recovery of the Belarusian economy. “But in the absence of policy changes, the pace of growth in Belarus will remain low in the next five years,” said Hoffman.
According to him, to “change the trajectory of economic growth”, Belarus should adopt a consistent economic policy guided by the recommendations of the fund and initiate “deep structural reforms” in order to improve the performance of enterprises.
“In this scenario, the growth rate in 2015-2016 may be even lower than projected. However, these losses were offset by significantly higher rates of economic growth in the coming years,” said Hoffman. Experts of the fund believe, that in the case of deep economic reforms, growth is likely to significantly increase, and in “midterm Belarusian economy can grow by 4-5% per year”.
BelaPAN, belsat.eu/en/
