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How Much Longer Do Belarusians Have To Scrimp On Foodstuffs?

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How Much Longer Do Belarusians Have To Scrimp On Foodstuffs?

Experts do not find grounds for optimism in the forecasts up to 2020.

Recently, First Deputy Prime Minister Uladzimir Siamashka has reported that Belarus is "getting out" of the recession and the domestic economy will be only increasing. However, Western analysts give different predictions.

In particular, Euromonitor International senior analyst Maria Milashevich in her interview to the Economic Newspaper, commented on the fall in food sales, which the National Statistical Committee had registered. Although at the time of a crisis, in the first place people choose not to buy industrial goods, and only in extreme cases – foodstuffs.

– Why do you think that up to 2020 the retail market will almost not grow in Belarus?

– According to our forecast, the economy of Belarus will stagnate for a long time: the real GDP growth will not exceed 1% over the next 5 years, the inflation will remain relatively high (8-9% annually), the national currency will continue to fall. All this will have a negative impact on food retail development. After all, its dynamics depend on the economic stability and development.

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