OREANDA-NEWS. October 5, 2011. Belarus is likely to see GDP growth slow down to 1.4-5% in 2011, Russia’s Economic Development Ministry said in its social economic development forecast for 2012.

“Overall, economic growth in 2011 may slow down to 1.4%-5%, consumption growth – 5%, investment – 7.1%. The current account deficit is projected to go down to 12.3% of the GDP”, the Russian ministry’s forecast says.

Among the factors that will affect economic growth in Belarus the Economic Development Ministry has mentioned the rise in the contracted gas price in H2 2011.

Another factor to impeded GDP growth, according to the Russian forecast, will be a fairly quick reaction of consumer prices to exchange rate fluctuations.

Belarus’ GDP expanded 9.1% on the year in January-August 2011.