IMF ups Belarusian state debt forecast to 46.3% of GDP in 2011
MINSK. Oct 5 (Interfax) - The International Monetary Fund (IMF) has increased its forecast for Belarusian state debt to 46.3% of GDP in 2011, instead of 35.6% of GDP.
The IMF has included the new figures in its October issue of the Regional Economic Outlook for Europe and the previous forecast was published in mid-September following discussion by the IMF board of a post-program monitoring mission carried out in June. The forecast for government debt in 2012 is also more pessimistic at 45.6% of GDP against the earlier forecast of 41.2% of GDP. Belarusian state debt totaled 26.5% of GDP in 2010.
The IMF slightly improved the Belarus gross foreign debt forecast to 68.2% of GDP in 2011 (68.3% before) and 72.3% in 2012 (72.5%).
The review confirmed the slower GDP growth forecast adjusted earlier in the World Economic Outlook (from 7.6% in 2010 to 5% in 2011 and 1.2% in 2012) and the current account deficit reduction (from 15.5% of GDP to 13.4% and 9.9%, respectively).
The IMF expects a surge in Belarusian exports in real terms in 2011 - by 29.6% (compared to 7.3% in 2010) and then 4.9% growth in 2012.
The budget deficit is forecast at 0.9% of GDP in 2011 and 1% of GDP in 2012.