Valery Belsky, Director of the Institute of Economics of Belarus’ National Academy of Sciences, named the prerequisites for the country’s GDP growth in 2018.
According to him, in 2017 Belarus’ GDP went up by 2.4% versus the expected 1.7% increase. It stands to reason that the uptrend will continue in 2018, he believes. In particular, the investments in the Belarusian economy have been growing. The expert named some other positive aspects: the growing consumer demand, labor productivity, and real income.
“The situation has become stable following a quite complicated period on the market of our major trade and economic partner, Russia, where the demand has been recovering,” Valery Belsky stated.
In his words, an important factor affecting Belarus’ economic growth is the stabilization of energy prices on the global market, which will boost the income of Belarusian oil refineries. (BelTA/Business World Magazine)