IMF Downgrades Belarus' 2014 GDP Forecast to 0.9%
OREANDA-NEWS. The International Monetary Fund (IMF) has downgraded the forecast of Belarus' GDP growth rate in 2014 by 0.7 percentage points, bringing it down to 0.9%.
The IMF announced the forecast adjustment following the latest round of consultations with Belarus.
IMF experts say economic growth will remain slow amid high external misbalances.
In the context of slow economic growth in Russia, which will result in reduced external and internal consumption, Belarus' GDP is expected to grow by a slight 0.9% in 2014, while the inflation forecast remains unchanged at 16.3%.
Belarus' current account deficit is seen at 8.75% of the GDP due to weak external demand (previous forecast - 10%).
According to the forecast of the Belarusian government, Belarus' GDP is expected to grow by 3.3%. The National Bank of Belarus upgraded its inflation forecast for 2014 from 11% to 16-17%.