Target missed: Belarus’ GDP grows by 5.9% for five years


None of the targets set out in 2011-2015 Social and Economic Development Forecast is met.

In particular,  Belarusian authorities expected Belarus’ GDP to grow by 62-68% in 2011-2015. But during this period the country’s GDP increased only by 5.9% –  about ten times less than it was planned.

Over the past five years the growth of industry was 4.6% (the target was 54-60%).

The real income of the population increased by 32.7% (the expected growth was 70-76%).

Meanwhile, the draft program of social and economic development of Belarus for the next five years provides for increasing the competitiveness of its economy and reaching the world’s upper-middle rates of economic growth.

“After we have repeatedly failed to meet GDP targets, very few people believe that we will ever equal the performance. The government – at the level of local officials – will be considering  this purpose as an ideological problem, which has little to do with economic activity,” economist Anton Boltachka said.

belsat.eu, following БелаПАН

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