Belarus Economy May Expand by 5-6% in 2013
OREANDA-NEWS. July 18, 2012.
Assessing the basic indicators of
Industries are the engine of economic growth in
The forecast for next year is positive, with GDP growth expected at 5-6%, Dolgovechny said. However, experts realize that with a growth like that the government will not be bale to reach the 5-year target. For that reason, the government will try to accelerate economic growth, taking care not to upset the balance for fear of trigger a new economic crisis, Dolgovechny said.
One of the hidden resources for economic growth in
In the meantime,
“After five months inflation growth stands at 8.5%, which makes us believe the 20-22% forecast will be fulfilled. Personally, I think it will be around 20%. However, inflation continues to grow by 1.5% per month on average, which has to do with the inertia of inflationary processes. We expect the rate of monthly inflation growth will be sustained at 1.5% till the end of the year,” the analyst said.
At the same time, he does not rule out the chance that inflation may grow at a higher rate because of the pressure to raise utility tariffs for private households.
To ease the pressure on prices and the inland consumer market, the National Bank of
Furthermore, Belarus plans to completely abandon monetary emission practices by 2014 to meet its liabilities to the EurAsEC Financial Bailout Fund.Starting 2014 monetary emission credits is supposed to reduce to 0% from 1% of the GDP in 2013, the analyst said.
Direct foreign investments
Referring to foreign investments, analyst Dolgovechny mentioned that the bulk of direct foreign investments in
Of USD 700 million
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