World Bank predicts recession in Belarusian economy in 2017

Economic recession in Belarus in 2017 will be worse than this year, a World Bank ecomonist in Belarus, Kiryl Haiduk, said on Monday.

The Bank's experts believe that this year's GDP will drop to 2.7 percent, and even to 0.9 percent for next year, Haiduk said.

He said the World Bank experts predict that the Belarusian economy will begin to climb up only in 2018, to 1.1 percent, if the situation with the export of goods and services will be improved.

World Bank links the growth of the economy of Belarus to the recovery of markets of its major trading partners. In addition, the growth is connected with reforms aimed at improving the competitiveness and performance of the real sector of economy, said Haiduk.

The International Monetary Fund also believes that the Belarusian economy will start to recover only after 2018. Endit