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World Bank keeps Belarus' 2016-2018 GDP outlook unchanged

The World Bank has kept unchanged Belarus' economic growth outlook over the next three years. Experts of the largest international financial organization expect the resumption of GDP growth in 2017 and 2018. It will increase by about 1% per year.

According to the World Bank, the global economy in the next 12 months will depend on the situation in the major emerging markets. In addition, economic growth in Europe and Central Asia will be affected by oil prices. If the fall in the value of hydrocarbons slows down or even stabilizes, then the state of the economies of traditional markets for Belarusian goods, Russia and Ukraine, will improve.

Young Chul Kim, head of the World Bank in the Republic of Belarus:
This year, we must be flexible in economic and political approaches in order to improve the situation. In general, many countries face difficult times. And we will need to make every effort in the Republic of Belarus so that we can resume the growth we forecast for the following year.

Young Chul Kim