19 Jun 2009 14:04

Belarus expects zero GDP growth in 2009 and 2010

MINSK. June 19 (Interfax) - The Belarusian Finance Ministry forecasts zero real GDP growth in 2009 and 2010, according to materials prepared for the CIS and Baltic States Bond Congress being held in Minsk.

In nominal terms GDP will amount to 147 trillion Belarusian rubles (Br) in 2009 and 170 trillion Br in 2010.

The GDP deflators in 2009 and 2010 are 114% and 115.5% respectively.

Inflation is forecast to total 13% in both 2009 and 2010. In that period, the Finance Ministry does not anticipate a cut in the refinancing rate, which was raised to 14% annually in early 2009.

Belarus posted a 10% increase in GDP in constant prices to 128.8 trillion Br in 2008 based on a GDP deflator of 120.6%. GDP growth in January-May 2009 was 1.4%.

The official exchange rate on June 19 was 2,836 Br/$1.