Belarusian GDP growth slows to 1.7% in Q3
MINSK. Nov 17 (Interfax) - Belarusian economic growth slowed to 1.7% year-on-year in the third quarter of 2011 from 11.4% in the second quarter and 10.9% in the first quarter, the National Statistics Committee (Belstat) reported.
Nominal GDP measured Br85.2 trillion in the third quarter, compared to Br58.3 trillion in the second quarter and Br42.26 trillion in the first quarter. The GDP deflator index was 177.4% in the third quarter and 148% in the first nine months of 2011.
The Economics Ministry is forecasting negative GDP growth in the fourth quarter of the year. The ministry reckons real GDP growth for 2011 will measure 4.5-5% taking into account that real GDP rose 7% in the first ten months of the year and measured a nominal Br216.8 trillion.
The Finance Ministry forecasts that nominal GDP will measure Br266.7 trillion in 2011 ($46.8 billion at the anticipated average exchange rate of Br5,700/$1 for the year - ed.). Nominal GDP amounted to Br162.8 trillion in 2010, or $54.7 billion (at the average exchange rate of Br2,978/$1).
The country's GDP in the dollar equivalent is therefore expected to contract by 14.4% in 2011.
The International Monetary Fund is forecasting that Belarusian GDP will grow 1.5% in real terms in 2012, and measure Br325.7 trillion in nominal terms. The National Bank of Belarus is projecting an average exchange rate of Br8,500/$1 for next year. In that case, GDP in the dollar equivalent could shrink to $38.3 billion in 2012.