Belarus’ GDP may drop by 2.5-2.6% in 2016 due to the ongoing oil dispute with Russia, Belarus’ Economy Minister Vladimir Zinovsky said.
Belarus’ government had planned to achieve a slight YoY GDP growth in 2016 (official forecast – 0.3%). Belarus’ President Alexander Lukashenko said in November that the country’ GDP would reduce by at least 2% in 2016. Belarus’ GDP decline totaled 2.8% in January-October.
At the same time, Belarus’ authorities will not revise the official forecast for 2017, which implies a slight growth, even if Russia chooses to cut crude supplies. (Prime-TASS/Business World Magazine)