22-06-2012 12:30 Belarus
WB forecast: Euro crisis may freeze GDP growth in Europe, Central Asia amid economic growth in Belarus
MINSK, PRIME-TASS. Further tension in the Euro Area may slow down GDP growth in developing countries of Europe and Central Asia by 5% or more in comparison with the basic forecast, the World Bank said its April’s Global Economic Prospects report released in early June.
“Renewed tensions in Euro-area, capacity constraints in some countries and deleveraging by European banks are projected to slow regional GDP growth in Europe and Central Asia to 3.3 percent in 2012, before a modest recovery begins in 2013 and 2014 with growth of 4.1 percent and 4.4 percent, respectively.
WB experts forecast moderate economic growth in Russia and Kazakhstan. Russia’s GDP growth is projected at 3.9% in 2012, 4.2% in 2013, 4% in 2014.
Belarus’ GDP is expected to grow 2.9% in 2012, 3.5% in 2013 and 4.4% in 2014, according to the WB forecast.
Belarus’ gross domestic product (GDP) expanded 3.1% on the year in January-May 2012 to 187.4 trillion Belarusian rubles (22.7 billion at the central bank’s exchange rate). The GDP forecast for 2012 stands at 5-5.5%.