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Belarus' GDP growth projected at 1-1.1% in H1 2017

Economy 14.07.2017 | 12:17
Vladimir Zinovsky
Vladimir Zinovsky

MINSK, 14 July (BelTA) – Belarus' GDP is projected to increase by 1-1.1% in H1 2017, Economy Minister Vladimir Zinovsky told the media on 14 July, BelTA has learned.

“The statistics are not available yet but we know the figures for some sectors. The manufacturing industry has fared well. Due to the bad weather we have not been able to crop the first harvest of forage crops as we planned. Thus the agricultural industry reported a slight decline. Trade, both retail and wholesale, has edged up. If the construction industry keeps the pace it showed in the first five months, we will have a GDP growth rate 0.1-0.2% higher than that in January-May,” Vladimir Zinovsky said.

According to him, the Belarusian economy is picking up steam. “It is not so easy to get certain growth immediately. There is a shortage of investment. We need to work harder with investors throughout the world. We have big hopes for the Chinese-Belarusian industrial park Great Stone and more initiative from our regional authorities and ministries. We need to create jobs, not just new jobs but innovative jobs, with a higher value added, higher productivity. Then we will be able to fulfill all the plans we have mapped out, and will create a good groundwork for more rapid GDP growth at not less than 3.5% per year for the next five years,” the minister said.

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