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Belarus able to reach 1.7% GDP growth by yearend
02.08.2017 15:48 "Agro Perspectiva" (Kyiv) —
As of this week, while speaking ahead of the session of the Council of Ministers to review Belarus economic results within H1 2017 and consider additional measures to achieve performance targets, Belarusian Economy Minister Vladimir Zinovsky told Belarus is able to reach 1.7% GDP growth by the year-end 2017, Belarus Radio reports.
«Today we will discuss the plans for achieving 1.7% GDP growth by the yearend. We have set higher performance targets for several ministries, in particular, for the Architecture and Construction Ministry and oblast executive committees. Now we have higher targets not only in construction, but also in agriculture. I think we can meet this goal and even exceed it,» Zinovsky remarked.
He reminded that GDP growth reached 1% within Jan-Jun 2017.
«This one percent is worth a lot. The economy is gradually recovering from several years of recession. We have laid a good groundwork to achieve all the performance targets, GDP being the main one, by 1 Jan 2018,» noted.
Besides, the Minister also drew attention to the low level of inflation. «Companies report an increase in profits. The effective rate for the real economy is now 1314%, although it was 40% not long ago. The refinancing rate of the National Bank was cut down to 12%. Further effort to reduce the inflation will make it possible for the central bank to further decline the refinancing rate to 79%,» Zinovsky said.
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