Belarus unveils its GDP growth forecast for Q1 2013
2012-12-19 10:02:03
The Economy Ministry of Belarus forecasts an 8-9% growth of Gross Domestic Product (GDP) in the country in early 2013, Economy Minister Nikolai Snopkov said a phone-in session arranged by the Respublika newspaper on 19 December.
When asked on possible predictions for Q1 2013, the minister noted: “We expect an 8-9% growth in GDP at the beginning of the year. Foreign trade will be on the rise, with exports steadily growing. The country will keep trade surplus both this and next years. I am talking about the first quarter of 2013. We will do our best to keep inflation at 12% per annum.”
The year 2013 has been declared the Year of Frugality in Belarus. Commenting on how this fact may influence the economy of the country, Nikolai Snopkov said: “We see frugality as a need to reduce material costs in the real economy where we have enough reserves. Released funds will be used to increase salaries. This is the main focus on the Year of Frugality.”