World Bank expects Belarus' GDP to grow 1.8% in 2015

The World Bank expects Belarus' GDP to grow 1.8% in 2015, according to the WB's Global Economic Prospects report, BelTA has learned.

Thus, the World Bank confirmed Belarus’ economic development forecast for 2015 announced in November 2014. In 2016 Belarus’ GDP should go up 2%. The same is expected in 2017, the WB experts are confident.

As for Belarus’ partners in the Eurasian Economic Union, Kazakhstan’s GDP will increase by 1.8% in 2015 according to the World Bank. The World Bank experts the Russian economy to contract by 2-9%. GDP in Armenia will grow 3.3% this year.

The World Bank predicts better global economic prospects in 2015. However, differently directed trends include downward risks. They are related to a number of factors: protracted weakness of the global trade, possible volatility of financial markets due to the interest rates in big economies growing in different times. A lot depends on the effect of low oil prices on the balance of oil producing companies. Another factor is a risk of enduring stagnation or deflation in the euro zone or Japan.