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IMF says reforms can double Belarus' economic growth

The IMF has improved the economic outlook for Belarus revising the figures to plus 1% to the previously announced indicator. Thus, by the end of 2017, experts expect the country's GDP to grow by 1.7%, said November 9 head of the mission of the International Monetary Fund for Belarus Peter Dohlman.

The Belarusian economy will remain on the trajectory of growth in the future, too, believes the IMF. The indicator for the medium term is projected at 2%.

Peter Dohlman, head of the IMF mission for Belarus
Economic growth is also a consequence of the decisive actions taken by the government over the past two and a half years and aimed at stabilizing the economy. The government had to take a number of difficult decisions, including tightening monetary and fiscal policies and further liberalizing prices. As a result, today we again observe growth in consumption and investment, the exchange rate has stabilized, and the level of inflation has fallen to historically minimal values.

Belarus needs to take advantage of the favorable external economic situation to lay a solid foundation for the future. Under these conditions and if reforms are accelerated, the growth can be doubled.

IMF says reforms to double Belarus' economic growth