Belarus’ GDP Goes Down By 3,6% In First Quarter

The gross domestic product has decreased by 4% for two months, and by 4,3% in January 2016.

According to the first evaluation, the gross domestic product scope in Belarus in the first quarter of the year 2016 made Br 213.2 trillion, which is 3,6% less than the level of the first quarter of 2015 in comparable prices, BelaPAN informs.

The GDP deflator index in the first quarter of the year 2016 has made 112% in comparison with the same period last year.

We remind, the gross domestic product has decreased by 4% for two months, and by 4,3% in January 2016.

The official prognosis for the year 2016, made by the Belarusian authorities and approved in December 2015, prescribed the 0,3% GDP growth. The prognosis was prepared basing on the anticipation that the year-average price for oil, which defines the economic activity in Russia and Belarus, would make USD 50 per barrel. Meanwhile, the oil price on the world market considerably decreased in January 2016. Today it makes USD 40 per barrel.

The Russian “Sberbank” analysts predict that the GDP in Belarus will go down by 1,5% upon the results of the year 2016. According to the experts, the factors defining the recession in Belarus are as follows: the recession in Russia, low prices for oil and oil products in the world, weakening of the Belarusian ruble and decline of the consumers’ demand.