GDP of Belarus Lost 4% in January-February

• 17.03.2016, 12:50

Production output decreases, warehouses are overstocked even more.

The GDP of Belarus lost 4% vs. the comparable period of the preceding year and made up Br141.5 trillion, tut.by reports referring to Belsat. As of January it equaled to 4.3%.

Production output decreased by 5.6% and fixed at Br121.5 trillion. As of the end of February stocks of finished goods equaled to Br36.8 trillion or 73.5% of average monthly production output against 74.3% in January.

Agricultural sector lost 2.4% (up to Br12.7 trillion) within two months.

Investments to fixed assets amounted to Br22.7 trillion, which is 24.6% less than in January-February 2015. Br11.9 trillion of the sum mentioned accrues to construction and installation works (minus 23.5% against last January-February). Costs for acquisition of vehicles and equipment equaled to Br7.5 trillion (minus 34.3%).

In January-February 746.1 thous. m2 of housing were set in operation that is 25.2% less than in the corresponding period in 2015. Inter alia, with state support – 183.9 thousand sq. m (minus 46.7%).

Retail goods turnover reached Br53.8 trillion minus 0,2.%), and wholesale one is Br98.1 trillion (minus 8.6%).

As earlier reported, in 2015 the Belarusian economy faced the drop of 3.9% against 2014.

This year the government plans a minimum growth of the economy (0.3%). International financial institutions forecast a decrease of GDP of Belarus by 0.5−1%. All these calculations do not take into consideration the turbulence Belarus got in along with Russia (the key trade partner) in early 2016.