International Finance Corporation: Difficulties In Belarus Are Just Beginning

The macroeconomic situation in the country remains difficult.

This was stated by the head of the regional office of the International Finance Corporation (IFC) in Belarus and Ukraine Rufat Alimardanov, assessing the operating results of the organization in 2015 and prospects for 2016, Ezhednevnik writes.

According to the IFC representative, for 2015 the total investment of the corporation in Belarus amounted to about $ 60 million. At that the structure of investments has changed. In 2014 about 80% of IFC's investments went to the banking sector and the rest to the real one, in 2015 it was the opposite – 80% of the funds were directed to the real sector of the economy.

According to Rufat Alimardanov, the macroeconomic situation in the country and in the region as a whole is difficult. According to the latest IMF data, GDP decline in Belarus will be 3.5% at the end of 2015. These data are later to be determined, but the overall picture is clear. According to forecasts for 2016, GDP is expected to decline by only 0.5%, but given the low base of 2015, this means that the situation will continue to deteriorate.

According to Rufat Alimardanov, despite the difficulties of the past year, IFC borrowers regularly pay all their debts, avoiding delays. However, it does not mean that this will continue.