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English
Eurasian Development Bank forecasts much slower economic growth in Belarus
The Eurasian Development Bank (EDB) predicts that Belarus' GDP growth will become much slower in the medium term.
In particular, the GDP growth rate will decrease from 4.7 percent between 2011 and 2015 to 2.6 percent between 2016 and 2020 and to 2.3 percent between 2021 and 2025, the EDB says in a survey published on January 24.
Antiquated equipment will make it impossible for companies to continue increasing their output, and the industrial sector will become less competitive amid rising costs, the survey explains.
Given the country's dependence on oil and gas imports, the competitive capacity of the Belarusian economy cannot be increased without an increase in energy efficiency, the survey says.
The Belarusian government projects GDP to increase by between five and 5.5 percent this year and by 62 to 68 percent in the period between 2011 and 2015, or by about 10 percent a year on average. //BelaPAN
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