By John Meyer, financial consultant – Eurasia Business News, August 16, 2022
The gross domestic product (GDP) of Belarus in January-July 2022 amounted to 104.6 billion Belarusian rubles, which in comparable prices is 5.2% less than in the same period a year earlier, reported the National Statistical Committee (Belstat).
In January-June 2022, the decline in Belarusian GDP was 4.2%, in January-May – 3.4%. The dynamics of Belarus’ GDP turned negative in the first quarter (a decrease of 0.4%), while in January-February GDP grew by 1.2%, in January – by 2.7%.
The Belarusian government said last week that under an optimistic scenario, it would be able to ensure zero economic growth this year due to the expected recovery dynamics in the second half of the year in the absence of new sanctions and other unforeseen shocks.
The IMF expects a decline in Belarus’ GDP this year by 6.4%, the European Bank of Reconstruction and Development – by 4% and the Eurasian Development Bank – by 6.5%. The international rating agency S&P Global Ratings forecasts a drop of up to 15% amid Western sanctions.
In 2021, Belarus’ GDP grew by 2.3% after a decline of 0.9% in 2020 and an increase of 1.2% in 2019.
The official exchange rate for August 16 is 2.5883 Belarusian rubles / $ 1.
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